Apologies, I remember it as Google Wave - but you are right it has evolved, and Apache Wave captures the idea that it is indeed an open platform. And while I agree that the technology isn't dead, I don't think it (the protocol) is likely to be what ~7 billion people (or how many now has a phone number) will use to communicate across network providers, carriers, device manufactures and content silos. I think it is dead as an alternative in that sense.
It is Apache wave. And nothing is dead if a community wants it to be alive.