Nobody really knows... I heard it was because they couldn't secure a theatre in New York to follow up the Chicago opening, and funding issues... but they're still working on getting it to stage. I found a new website with tracks from the reworked score. My friend told me that Aaron Lazar plays the lead... he's am-ahzing, he's in Light in the Piazza on B-way right now.
Check out the site, they have sample tracks and a synopsis... www.masadamusical.com.