First off Dynamite Dreams is still in development!
I checked their website about a month ago and there was no activity at all so I lost hope.
But it appears they are still gonna make the game! Nice!
Elysian Shadows is still being worked on and still is slated to be on the Dreamcast!
There seemed to be a pretty big shake up in the team but it looks like this game could actually see the light of a dreamcast's laser one day.
Wonderful news. Two Dreamcast projects that I thought might be dead are ALIVE.
Truly the undead console is king (or queen according to Gagaman(n)).
Pulled from DC EMU UK and DCEmulation.org.