Yes it's still on the go. Planning going there myself sometime this year. The only problem though is CAD West is in the Mach Loop which only makes up for a small area of the low fly area (LFA7), so can't guarantee to see some action. You just have to turn up and hope for the best.
I remember reading somewhere there was a timetable for the low fly areas, but it was for the areas themselves, not different sections of them.