OK, it is official:
Report of cancelation.
Talk of the show going on.
Interestingly, the removal of BSG from the Sci-Fi Friday line up is mentioned as a reason for the ratings decline. Well, it can always head back into syndication.
ETA: Poor Ben and Claudia must be having flashbacks. Yet another show where they were signed to a two year deal only to have it unexpectedly canceled. :(