Sega said that the release for EU and NA fans was not forgotten but only delayed. Players of Phantasy Star Online 2 in Asia can enjoy it since July 2012 and that is quite a long break between another expansion to the rest of the world.
According to the official response to one of the fan's question if they are working on it or not the reply was: "PSO2 is still delayed. SEGA is currently working on bringing PSO2 to the West and will update as soon as we know more."
Anyway we would recommend not to be very optimistic but rather realistic. It has been a long time of waiting without any visible progress so we can just hope for the best.