Originally, we did not anticipate getting new guns into source would be so challenging. Although we are making headway (check out the pre-rendered versions of our three guns below), there are still a number of technical problems to work through. So, the new official release date is "when its done." Do note that our first mod was delayed as well, but that came out after only a few extra weeks (ie the mod is NOT dead at all, its only going to be better as a result of this).
Anyways, now that that is over with, two more things: first of all, if anyone has experience importing weapon models and textures from Blender to Source, their aid could very much expedite our development process. Please contact backslashcat@gmail.com and zimmbous@gmail.com if you could do this.
Lastly, as mentioned above, here are some renders of the three guns we currently have modeled and scripted (the properties are in game, just not the models).
should have used XSI