The film is certainly gaining some traction if they have a producer attached, and something tells me how Muppets Most Wanted does will be a key factor. Fraggle Rock deserves a movie (even Sesame Street got 2), and the sooner they can get people that remember the show in with their kids, the better.
But it really seems that as far as most Henson projects go, they get that much closer and then things completely vaporize from there. Happy Time Murders should have happened by now. It had the makings of a cult, sleeper hit, but it never got the funding or traction beyond Katherine Heigle was attached. Power of the Dark Crystal kept coming so close, and then just kept getting abandoned. Hopefully Fraggles will break through that barrier, but it's going to take a miracle to get there.