So, after some time, around December 2014, I've begun working on the project again and made it from 0 with new things and other things, but...
I will not be posting any updates about the project here, Instead, I am going to post all the updates I made on it on my Blog (or on it's page on Terraria forums).
Some things that changed is that now the project no longer uses threads, which means that the game will no longer give freezes, interface changed, status system also changed, and some monsters got their sprites, alongside skilla with animations.
More things changed on the project, and you can see more about the project on this link:
I will be posting there the news.
Be sure to discuss about the changes on the blog, so I can see how much the feature is favored or not, or if anything can be changed.
Edit:. The version in development is not playable right now, I will hold it a bit until it's playable and have some contents, so does not happens the same thing as the older version of it.