James Arnold Taylor updated his blog with his thoughts. Here he makes it sound like it's completely done aside from the episodes in production, based on Cary Silver and Dave Filoni calling him to say it was cancelled - and only this past Friday. He didn't explicitly say that he wouldn't be going in for any more voice sessions, but it seemed like he was done working on it. Obviously voice work is done before the many months' work of animation, but it seems as though the work is only happening on episodes that were already in some level of production. Then again, ADR is pretty common here, so maybe they can sneak in a few extra episodes or something. At any rate, I know they've still been recording up until fairly recently, so hopefully those episodes will still get made and we'll have lots of content to look forward to here.
I dunno about TOR - it seems like it'll still be a while before the show goes to air, and the game will be old news by then. But the overall Old Republic timeline is pretty popular (even though I've never gotten into it). I doubt that it would take place during the new films or in the space between VI and VII, since there would likely be too much conflict and continuity issues with trying to make both at the same time.
And, oh yeah, Admiral Trench's robotic upgrades are freakin' awesome in that clip!