Best information - the project is "on hold" pending a company-wide business review on the impact of the attacks and the level of effort required to fix California Adventure. If the project moves ahead, it will be the "cheap" version of the the ride (i.e., no 'Fifith Demension', no lateral movement, no hotel lobby) and it will not be called the 'Tower of Terror'.
Different groups in the Company want different things and have different plans. The "facts" are only as good as the person who you talk to. In short, don't plan your trip anytime soon.