It's all part of Ignition's overall shift to digital development. WarDevil's London studio is now expected to be closing as well say initial reports.
The aim of the team was to have WarDevil developed as a top notch visual game that would run at 60 FPS. It has spent long periods of time away from the public eye only to surface now and then with a new trailer or image. Obviously Ignition lost faith in the title.
Ignition's London office is set to become their "global headquarters" for all digital videogames development in the future. HD versions of Muramasa: The Demon Blade and Odin's Sphere are allegedly in the pipeline.