I did my research on the internet for any news. Sadly, I have to conclude that they don't care about reviving the Dream vs Dream.
There were people who worked on DvsD who tried to motivate others in the team to focus on development and finding sprite members. From what I heard, it didn't do much to help the project of no one's there to take their word.
Also, the team was losing good and talented members, and they didn't bother finding people who are willing to join. Lack of interest in the project, strife, and money (the programmer added Dream vs Dream shirts and the he's the only one getting paid, and said to be using all the money for a 'charity' without the buyers' knowledge) are likely elements of the game project dying off.
Lastly, their forum was wiped off the face of the internet for a few months now after the file system for it was corrupted.
That's what I got from this. Dream vs Dream has a lot of promise. Maybe, sometime in the future, there will be someone who will get inspired to make a unique Yume Nikki fangame based off of the brilliance that was DvsD.