First, where did these people get their info from? According to the OWL it is abandoned, but all things change, including a game's status.
Also: According to wiki, ThrowBack Entertainment bought the licence to Re-Volt from Acclaim in 2006.
I suggest someone who knows where to look, finds out exactly what this title's status is.
EDIT: Here's the official ThrowBack Entertainment site
http://www.throwbackentertainment.com/