UPDATE: Thanks to commentator Matt D, we know that Tom Brevoort has already addressed the question on his Formspring account.
Original Story, 1/26: Originally announced late last September, Arcade: Death Game, a three-issue miniseries written by Paul Tobin and pitting Spider-Girl, the Young Allies and Avengers Academy against Arcade’s latest iteration of Murderworld, has been canceled by Marvel Comics according to the latest Previews cancellation list:
MARVEL COMICS DEC100585 ARCADE DEATH GAME #1 4 DEC100586 ARCADE DEATH GAME #2 4 JAN110755 ARCADE DEATH GAME #3 4
The “4″ code means “canceled by publisher.” So we went straight to Marvel, to ask what’s the status of the series, and if it might be re-solicited at a later date. The official word: “We will have an exciting announcement soon.”
So that certainly sounds like the project’s not dead, though it’s already gone through a bit of changes. It was originally slated for January 2011, titled “Game On,” and meant to run in the annuals of Spider-Girl, Avengers Academy and Young Allies. Young Allies got canceled a couple of weeks after the announcement, and the story was later solicited as a three-issue miniseries, with the first two parts scheduled for February and the last in March. The latest official Marvel press release about the series was issued on December 9 of last year, including Death Game as one of several $2.99 an issue miniseries.
So, yeah. We shall wait and see.

January 25th, 2011 at 6:54 pm
Released as an OGN?
January 26th, 2011 at 9:59 am
I think Brevoort said that they’re repackaging/rethinking it and are going to release it later in the year with a smarter commercial push.
January 26th, 2011 at 10:00 am
http://www.formspring.me/TomBrevoort/q/2127872895
January 26th, 2011 at 10:55 am
Sounds to me that they’re just going to merge the mini into the regular Spider-Girl series.
January 26th, 2011 at 11:06 am
Thanks, Matt D!
January 26th, 2011 at 2:19 pm
O noes! When can I play the Super Nintendo version? Which by the way, there is an Nintendo Marvel Game, X-Men or Spiderman can’t remember, exactly called “Revenge of Arcade”.
February 11th, 2011 at 5:27 pm
@Sha you mean Spider-Man/X-Men: Arcade’s Revenge
I loved it!