IGN is reporting it too!!! ...For us non-japanese speaking individuals. =D
http://wii.ign.com/articles/940/940381p1.html
I never thought it was cancel, but I did start to think I would lose my interest for it by the time it came out. =p
The Interweb is about overreaction, this is what makes it great!
...Imagine how boring the interweb would be if everyone thought logically?