I base that on my interpretation of Google's Depreciation policy:
Section 7.3
The original terms at the time of the Master/Slave depreciation was for 3 years, so I believe Google still has to honor that timeframe. But after that time is up, They are under no obligation to continue to offer or support the Master/Slave datastore. I wouldn't make any bets on it continuing to operate.
As for the read/write issues, I found the simplest way to handle it is to make good use of Memcache. Store any new data writes in Memcache, and check Memcache before doing any Datastore reads. This way you'll always get the latest data.