Uthgaard is apparently back as a developer.
Kanras and Haynar have still been plugging away at bug fixes, so I'd imagine the rest of their crew are around too. I'm not sure who is responsible for epic progression now that Xzerion isn't a dev, but I hear Uthgaard had a hand in Kunark so he's probably working on velious too.
I would not expect to hear anything until epic drama dies down and Kunark content has become old, but a Velious beta late this year (even if the beta runs for 6 months) seems pretty likely. The more complex the quests, the more time you'd want people to spend on them testing before release. And once Kunark becomes stale, they can do rounds of 'forced beta' again without too much crying.
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