Today, Tetsuya Nomura (director of Kingdom Hearts as well as Advent Children) has released some info about the long awaited Versus XIII. On Square Enix Merchandise Radio Nomura was asked about the status of Final Fantasy Versus XIII. And while not being able to give any significant information, he did state that Versus XIII is still alive and that Square Enix is currently putting together its plans to reveal more information at an already set date. However, he did note that Versus XIII was a very sensitive issue within Square Enix so being able to give away information is still very much tight. He revealed that the company may possibly release details as to why the release date has been delayed over the past few years (eight years to be exact) when they announce more information at their next set date.
It is also important to note that Nomura still referred to the game as Versus XIII so it may be possible that its kept its title in reference to the rumor of it being its own numbered title of Final Fantasy XV.