If I understand correctly, some members, like Kuroaitou, are currently working on restarting it.
I don't think that's the case.
I have seen that section of the forum, and I really got excited about the idea of that game....
saw it after the beta ended, and it looks like that was its last activity
I think it is too time-demanding, but the community is now bigger!! 
Actually the community is now a lot smaller.
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To the point where I wonder whether we'd have the participation to justify the effort organizers would have to put into it. I think it's dead unless zanz manages to market the game and single-handedly double the community.
Maybe I'm wrong. All it would really take to find out is a couple players motivated to get it up and running. Admins are looking for players to give the keys to, I suspect. If anyone
does answer that call, heed my advice: take an axe to what SG wanted WoE to be, and just start hacking. She was way, way too ambitious.