I'm disappointed it has been stopped. I bought VisualHub nearly a year ago, and have used it excessively. The latest release is very stable, and works brilliantly for what I use it for (converting .avi's to .mp4's for my Apple TV).
I will continue to use it. Just a shame it isn't going to be improved and optimised even more.
This opens the door for HandBrake to really take over.