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Nope, the game was deleted at the request of Toriyama or Lightning. --- "Ask not for whom the bell tolls... it tolls for thee." - In memory of Chuck, the wisest boxcar hobo of all time from Telltale's The Walking Dead.
I think Square Enix is trying to finish on Lightning Returns: Final Fantasy XIII and FFXIV: A Realm Reborn (both of which are slated for a 2013 release), and after those two are finished they can move on collectively to Final Fantasy Versus XIII. I do think that Hashimoto made it seem that we'll see something relating to FF Versus XIII in 2013 though, even if it's just a promo video or screenshots.
My guess for a future timeline
E3 2013 - FF Versus XIII footage shown along with screenshots; could get a new name Summer 2013 - FFXIV: A Realm Reborn released for PS3 and PC Winter 2013 - LR: FFXIII released for PS3 and Xbox 360, completing the storyline for FFXIII Summer 2014: FF Versus XIII released for PS3 and Xbox 360
As for those saying PS4/Xbox 720 will be out in 2014 I don't expect it.
Microsoft said in 2011 that the Xbox 360 was halfway done with it's life cycle, which was when it had been out for six years: http://www.computerandvideogames.com/308963/ms-xbox-360-about-halfway-through-its-lifecycle/
that would put the Xbox 360's demise to be in 2017. The original Xbox was discontinued in 2007, two years after the Xbox 360 was released. Using that same pattern if the 360 is to end in 2017 then the Xbox 720's release would be in 2015. But that's assuming that they will follow the same pattern, which they may or may not do.
For the PS3 it's under a ten year cycle: http://www.eurogamer.net/articles/2011-05-26-sony-is-working-on-playstation-4
which means it's demise will be in 2016, since it's release was in 2006. The PS3 was also released six years after the introduction of the PS2. Using the same pattern the PS4 should have been released this year (six years after the release of the PS3), but they haven't even unveiled official plans for it.
Sony has been in financial trouble recently though with the PS Vita not selling well, with the company's CEO saying "if we don't turn this around, we could be sitting in some serious trouble." http://www.escapistmagazine.com/news/view/118130-Kaz-Hirai-Steps-Down-as-Sonys-Director-and-Chairman
With the financial worries I think Sony will be in similar releases with the Xbox 720, moving it to 2015 release. They will have one more year with 2013 to gather as much money as possible before unveiling the PS4 in 2014. I think economics have played an overlooked role in this gen as far as system releases. The revenue needed to keep pumping out new systems just isn't as much as Sony has had in the past.
Another thing to consider is Valve's 2013 Steam Box adding more competition to PS3 and Xbox. It will be a living room PC able to play Steam games; games which are significantly cheaper than their console counterparts in most instances. These sales will take another slice out of Sony's already bad financial situation.
Nintendo will keep going with the Wii U but I don't think it will be a major player until some huge games come out for it (Super Smash Bros, Legend of Zelda, etc.). Some new people however might turn to the Wii U to get superior versions of existing games like Mass Effect, Sonic racing, Batman, etc. If this continues for other series that's even more lost sales for PS3 at least.
It is possible that the PS4 will be unveiled next year and released soon after that however, as a ditch effort by Sony to get rid of focus on the PS3, which they could see as something as a drag. I think however that they will draw it out and we'll see a duel release of Xbox 720/PS4 in 2015. For FF Versus XIII this will be fine if it's released in 2014 because it could even boost sales for the PS3, which would help both Sony and Square Enix.
i could see sony and microsoft pulling a nintendo and announcing the consoles in 2013 and releasing them in 2014. that would put nintendo in a two year lead though. when sony and micro start to release their systems, all nintendo has to do is drop their already 2 year old console down a hundred bucks and BAM, their goes 50% of the other consoles sales.
i would think next year or early 2014 is the absolute latest sony and micro would release their consoles. any later is insane. the devs want to move to next gen, the people want to move to next gen, graphical engines are ready to go, games are already being developed for next gen... it's time to move on already. --- impatiently waiting on versus xiii... -> EDIT: not so much anymore... (4/28/11) Zelda Timeline! - http://goo.gl/XFceA