It's over, cancelled in equal part by Adult Swim and co-creator Adam Reed, who left with many of the artists to do his new series Archer for FX, airing early next year. The pilot was shown a couple weeks ago after It's Always Sunny In Philadelphia, it was PRETTY awesome. Think Xander Cruise, but played by Jon Benjamin and a spy instead of a superhero.
As you can tell, I was a big fan of Frisky Dingo. It rather boldly threw aside a lot of the irony they always used to excuse away the craziness on Sealab 2021. But still had the same bits of real-life conversational humor that were always the real highlights.