Well after a weekend of speculation Jeremy put it to rest today.
and his follow up
It's too bad that geocachers today can't find an APE cache unless they go to Brazil, but the APE caches had to be retired at some point. For almost 10 years there was a cache here in Seattle. Sometimes we need to accept that things come to an end and move on.
It made me sad. I was really exited when he announced the return, and that groundspeak was going to push it.
There were a number that complained that all the caches that they found years ago would be worth less if more were placed. I don't buy that argument at all. They are different caches, in a different time. Early times are different than today, and I think it could have worked. However it is not my call, and they moved on. Hopefully they can plan something new and cool for the future.