Game dev here! I think with an update posted in July it'd be premature to request a release of the source. It's been a spectacularly crazy year, the team is tiny, and less publicity can just as easily mean more stuff going on behind the scenes. If they say stuff is happening, I say take that at face value. I'm also not terribly sure how much a release of any "source code" would help, as they're trying to port the thing to the Unity Engine. Unless FE previously ran on its own proprietary engine (totally in the dark on this) there would effectively be nothing to release.
If there is anything worth releasing, and they do actually decide to axe the project, then yeah I think it'd be very nice to see whatever work they've made go public, in whatever form that looks like.