Dead or not. the Evo/iEvo's firmware still supports 99% of all roms. From the point of Cyclo's last update to the last rom released, there maybe be only 4, 5, or 6 games tops worth playing so its not like you're missing out on anything since Monster Tale's release.
I can only imagine their iEvo didn't do so well on so they stopped supporting it. As much as I love them, its their fault for poor sales on the account of taking until the end of the DS lifecycle to release the only DSi mode Cart, and then pricing it at an outrageous price. $45-$50 might have been acceptable in 2008 when it's competition were at those prices, but in 2010 when flashcart prices were $5-$20, the iEvo did't stand a chance. I mean who the hell wants to play camera games anyways? The DSi only games were crap, and the DSi-enhanced games just took your picture. Only Pokemon 5 had a neat camera concept, but was ruined with its 3 frames per second quality.
Still, its nice to imagine that they'll come back with a 3DS flashcart. I really want to go back to supporting TC again. My DSTwo might be just as competant, but its UI is shit-ugly.