Its porting to later versions was planned by the team, but it is no longer a top priority. I have no idea why they stopped updating the mod, but it is currently at a very awkward standstill. As you pointed out, there are many mods that are far superior to ic2, so you might as well accept that.
Posts by lisette08
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Industrial Craft 3 is supposedly in development by the IC team, and I expect it to be released on Steam soon.