issued a statement two days ago, saying that a save issue affecting a small number of Fez players would no longer be resolved with an additional patch. Microsoft, who Polytron laid the brunt of fault on for demanding an expensive fee to certify and issue the new patch, has now shared its side with Giant Bomb.
"Polytron and their investor, Trapdoor, made the decision not to work on an additional title update for Fez," the statement starts. "Microsoft Studios chose to support this decision based on the belief that Polytron/Trapdoor were in the best position to determine what the acceptable quality level is for their game. While we do not disclose the cost of Title Updates, we did offer to work with Trapdoor to make sure that wasn't a blocking issue. We remain huge fans of Fez."
That last part is perhaps the most interesting, since Polytron claimed Microsoft's price for a new title update was $10,000 – this statement makes it sound like Microsoft may have been willing to negotiate on the price.
In the meantime, you can keep playing an improved post-patch Fez, in the hopes that your save makes it through the whole adventure. Polytron says less than one percent of players have succumbed to the bug.