A lot of people were wondering if this cancelled remake really existed and if Double Fine might use some of the assets in their Day of the Tentacle Special Edition. Well, we now have the answers to those questions, and they are yes, and maybe.Double Fine's Vice President of Development, Matt Hansen, had this to say on the Double Fine forums:
I have to be careful with being too open since it isn’t our license, but I will say that I am very happy with the stuff from Singapore so far.
They're understandably cryptic about whether the material will be used, but it's good to finally have confirmation that it existed, and that it was apparently pretty good. Hopefully they do use these assets, as this would be the perfect game to become the last released project that was co-developed by LucasArts. Unless of course anyone is bidding to complete Sam & Max: Freelance Police.