Metal Gear Informer reported the team behind the remake, Outer Heaven, has ceased work on the project, at the request of Konami. Here's the explanation why the project is no more from one of the producers at Outer Heaven: "Unfortunately we can no longer go ahead with the project, it seems like the guys over at Konami couldn’t agree on a decision so had no choice but to shut us down." The producer continued. "Even though it’s unfortunate, we’re thankful for all the help and support we’ve received from Konami, MGInformer, Kotaku etc. Especially the fans."
While it's not uncommon for video game fan remakes to be shut down over legal issues with the publisher, the case was different for Outer Heaven, as Konami gave the okay back in June. As long as Outer Heaven received no profits from the "Metal Gear" remake, the development team were allowed to continue working on the game. However, it looks like Konami has changed its mind on the fan project. It's possible Konami may wish to attempt a remake of the original "Metal Gear" game for itself one day. Or, felt confusions between a fan project and a official release would be too great among the public.
For whatever reason, the "Metal Gear" fan remake is officially over. However, Outer Heaven released a trailer of what was done so far for the game, including voluntary voice over work from original Solid Snake actor, David Hayter. In addition to lending his voice, Hayter was helping out with the script. Paul Eiding, voice of Roy Campbell, was said to have a cameo in the "Metal Gear" remake.
The trailer for the "Metal Gear" fan remake is available for viewing.