Hi,
Yes, the project is still active and the upcoming version will definitely happen. I'm going to refrain from making any comments on the release date as I don't want to make any promises I can't keep.
As for alternatives, I am sure by now there are many apps out there, but to be honest, I haven't really looked into any of them. The ones that come to mind are Mnemosyne and Anki, which are both very popular and worth checking out.
Best regards.