Very sad as it is my favourite music player.
The developer stopped developing it once before (felt he had added all the features that it wanted/needed), but then started developing it again. Was on BitsDuJour on 18th Nov, and I got my last update at the end of December, so this looks like a recent, sudden decision.
OTOH, it works very well at what it does & I can understand him wanting to leave it as it is. And the free version was always very functional, and the Pro version very cheap, so I assume he never made much money from it. Or even seemed to want to make money from it. I'm quite happy carrying on with it just as I am.