I think if it was going to go, the resort would've ponied up the money 2 years ago to make it happen. They really needed it more, and could not get the rights. Also, anecdotal, but CityWalk M'ville always at least moderately busy when I stop by. Only other places I can say that about are Hard Rock and Toothsome.
The real problem with CityWalk seems to be upstairs. Went to Pat O's Thursday--the night half this town gets paid remember--maybe 10 people watching football in the sports bar, not even that many in the piano bar. Didn't go in Red Coconut, but it looked empty from outside, guys were leaving in touristy t-shirt attire and host was cajoling them to stay (so much for being the new Blue Martini). No line at Rising Star. I'd expect an overhaul here before any of the mass tourist loaders get touched--either reinvented nightlife or a move toward restaurants like Springs. Tho how many more restaurants can CityWalk truly support?