Yes, it seems to be true. Microsoft decided to change .NET MF future. Colin Miller will be posting some official announcement (well, for me it is not an announcement) on the team blog in the next hours.
John Leier (which was my contact person in the past) has left Microsoft already in November 2008, I didn’t get this. Another couple of people in the .NET MF team I couldn’t contact. Pavel could just reach on of them and could confirm on this sad reality.
I hope that no one in the .NET MF team will loose their job. Since years I’m very fascinated of the .NET Micro Framework and what is possible with it. Hopefully I could give my best to still keep this great project alive.