Looks Like Bowlbo is Canceled
Every few months I do a quick search to see if there are any updates on the release of Bowlbo. I looked on Albino Moose's YouTube and watched their latest video, a trailer of a new game. In the comments someone asks them if this new game will "die in obscurity like Bowlbo," and they responded, saying that Bowlbo was a contract with OneyWare, of which is now over. So unless Oney plans to move on with the project using another studio, which I really doubt, it's looking like Bowlbo: The Quest for Bing Bing is a dead project.
Video with the comment available here: https://www.youtube.com/watch?v=MEAG16WbH6A