Yes, it's been closed for awhile now and the replacement will be a ride based on the movie the Mummy. Here's an update from our friend, Kelly Monaghan... http://www.theotherorlando.com/updates/uomummy.html
Kong was great! He totally terrorized both of my children.
I have a feeling that I may skip the Mummy. The worst thing about the Mummy so far is that they removed the basketball hoop that they had across from Louie's by the Second Hand Rose. My DS15 wanted to get a Dis game up.