The rumour just doesn't make sense. If they had the code ported to Wii U already, they wouldn't just can the project, they'd put it on hold. Given that it's likely to be a year or two before the successors to the PS3 and 360 are launched, and it's going to be on those platforms, why would they cancel Wii U development now, at least a year before the game is even likely to be launched? And why only cancel the Wii U version, if their problem is lack of money? If they're lacking money, it would make more sense to take what they've already got for Wii U, polish it up and tweak it, and release it early on the Wii U, thereby establishing some actual source of money.
So yeah, the rumour just doesn't make sense, and I wouldn't be surprised if the guy that told the rumour to NeoGAF misunderstood what he had been told. I'd say that it's more likely that one of three things has happened:
1. Only the Wii U version wasn't cancelled, and he misheard what he was told.
2. He was told that a Wii U game intended for release multiplatform on next-gen consoles was cancelled, and he misinterpreted it as only the Wii U version being cancelled.
3. He was told that they had stopped development (most likely temporarily) of the Wii U version, and he mistook that for it being cancelled.
I guess we'll probably end up hearing from EA about it, soon enough, whatever the real situation is. Assuming, of course, that his source was a valid one to begin with.