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The moderators of the official Tribes: Vengeance
forums have posted a collection of Q&A regarding the cancellation of the patch. The questions, which had been submitted by the moderators themselves to three VUG representatives, shade light on the reasons that lead to its cancellation: dismal sales, PunkBuster dispute, expensiveness of the QA testing. Also, the modding tools -- reputed as being buggy and incomplete by the community, won't be updated unfortunately.
You can read more in this (open) thread.