The indie dev team has been working on the project for a number of years now, and it has managed to release a well-received tech demo and a rather spectacular atmospheric flight test. The lack of news updates throughout most of 2012 was apparently due to a substantial amount of work being done on under-the-hood quality and performance issues.
As for an Infinity Kickstarter, it's coming (but not before mid-2013). The preliminary details include a standalone called Infinity: Battlescape which is basically a successor to Infinity's 2007 combat prototype. The game will focus on multiplayer combat, it will feature the seamless planetary engine, and it will likely take place in a single solar system. While some in the Infinity community have expressed indifference with crowdfunding a game that isn't the full Infinity project, I-Novae Studios says that Battlescape is more like "a first step to the whole MMO that will be marketed independently even though it shares a lot of content and code."