I've played the mod for years, and have been anticipating the game since it was announced.
Now it seems unlikely to happen, due to Paradox's concerns (probably entirely reasonable) about the quality of the product.
I don't want to play a buggy mess any more than Paradox apparently want to put their name to it, but I really really hope there is some sort of reprieve. There has always been something about Magna Mundi that no other strategy game managed. Partly the difficulty I think; the way it would punish you for overextending yourself in a way that few games dare to do. And the aim of the game designers - not to make yet another world conquest simulator, but to try to make playing a nation in a realistic fashion a rewarding experience.
I'm a sad panda :(