Mongoose has already announced that its Traveller range is due to come out, so I'd guess that the playtest has been sucessful. Here are the scheduled products:
April 2008
Traveller Main Rulebook
The Spinward Marches
May 2008
Mercenary
760 Patrons*
* = There is no information about 760 Patrons on the Mongoose website yet.
Jun 2008
High Guard
You can also see a (very) short (and not very useful) interview about Traveller in issue 53 of Signs and Portents and download two previews of Traveller from the Traveller homepage.
BTW: I think you have posted this in the wrong part of the messageboards, as Traveller doesn't really have anything to do with Pathfinder. Maybe it should be moved to the Other RPGs section where more Traveller fans are likely to find it.
Mongoose paid for the license for Traveller. They licensed other properties and announced plans to develop games based on the base Traveller system. I don't think they were about to "give up." Reaction from the playtest is very positive. Mongoose clearly listened to the fans/playtesters. And the game look quick slick. I've got 2 books on pre-order, and I am keeping my ear to the ground about freelancing possibilities for it.