Yes, it's been too long since an update! No, Imaginary is not dead. Right now I am enrolled in graduate school (as of this fall), and the first semester has a particularly heavy courseload. At the moment I'm working 70-80 hour weeks, so I literally do not have enough hours in the day to update Imaginary. ): The upside to this is that when I do resume Imaginary this December (after this semester), my work should be dramatically improved.
I appreciate the support of the people who came to the forums to ask about the state of the comic, and I apologize for the delayed notification. Imaginary will be resuming December 20th, when the semester is over, and my workload will drop to a more manageable 40-50 hour week. The added bonus here is that this will give me enough time to prepare a proper backlog to keep updates releasing in a timely way.