Janice is and always will be groovy!
As has been said, the official transcript from MuppetFest reads:
Question: "Is [Floyd] still tight with Janice?"
Floyd: "Well... Janice ain't so tight anymore."
This is of course referring to her age and not their relationship. We'll just say he was hinting at her need for Botox here and leave it at that.
This is the kind of chiding reserved for longtime couples like Kermit and Piggy, so I think it's safe to say that Janice is still Floyd's main squeeze.
I mean, they're made for each other!