Very clever of you to use a Grayson quote given that a Julia quote seems to be what inspired Mark Perry's take.
One would think that if the CW had passed on the sequel/reboot someone would have said something on Facebook or Twitter or in ShadowGram by now if it was dead. The fact that there hasn't been a peep from anyone involved when it comes to its status is what makes me suspect it's still alive. (Well, that and an article that lists it among the projects "still in various stages of development" at the CW.) But who knows?