They won't cancel the game. Mechs might change.
Also for those of you who don't know, Harmony Gold gave permission to MekTek for them to use the Warhammer, Marauder and others in their mechpaks. They didn't have to or didn't even need to respond, but they did and allowed use. I think S&T, Microsoft and Topps/Catalyst Games just need to work it out. More assuredly, the game will more than likely continue development.