I haven't gotten any updates lately, but I wouldn't declare it dead yet. The interest just needs to be stirred a little. I'm too busy to take any trades on, but it couldn't hurt to approach members of the club personally to ask if they're up for one. I also got some people interested in the club my making a journal post about it.
I just know I made some posts there, and they never got replied to even a year later. Seems pretty dead to me On the other hand, there are some other great trade groups out there. #Artcrossing, for one. I just really liked the little capsule idea, I thought it was kinda cute!