Shrapnel is still a good way to get RPG content out for the game. I doubt they'll do it, but it's still a vehicle.
Yes - but the problem is that I don't think they will, or at least, not a lot.
Personally, I'd prefer Shrapnel to be a magazine less reliant on BT and more of an in house magazine, covering Shadowrun, Leviathans and other games by CGL. Of course, if Shrapnel is successful (fingers crossed) then there is a lot of material for BT that could be added, enough to fill several magazines - previews, house rules, hints, tips and strategy, stories, units and so on.
And you already know I don't think it's dead. It certainly could use some work, but it's no more dead than BattleTech.
The rulebook is out of print, and being honest, the rules for the BT RPG have never been that great. I love the tone of the AToW, as it (well, MW3) was the first time it felt like they were making a serious effort at a BT RPG (MW2 being fun but, like MW1, was mainly a stat generator for the pilots) but the RPG rules need a major overhaul, revision, rewriting and the layout needs updating. AToW may not be dead, but I am aware of several groups that RP in the BTU - but use a different game system. That in itself isn't a major vote of confidence in the system and that CGL appears indifferent towards AToW is worrying. There isn't exactly a lot of support coming out beyond the bits and pieces in the Ere books.
Which is good, as in better than nothing, but there are no adventures, no expansions, no scenarios and the promised revised and updated version has been promised now for several years.
To me, that is as good as dead.
I hope that CGL will get round to addressing the issues, but they seem intent on Destiny instead. I would not expect any new BT RPG (revised, updated or otherwise) for several years and you have no idea how much I regret feeling that way.