I found that website about a year and a half ago. Not much has changed during that time. I don't know if they're having issues coming up with a backer for their projects or just suffer from a lack of impetus for the project, but either way, not much has happened (at least from what's being shown on the site).
I like the Deep Angel. It's a pretty neat looking sub. Very SeaQuestish with an airplane feel.
I really hope that something comes about from that project.