Sorry to hear that. The clip's fairly nice (damn, I wish I could get James Shigeta for MY fan film), but the quality is very Super 8mm-ish, and while they're hoping to get things going again and use the existing footage in their film as a flashback, I'm thinking the quality of the original just isn't good enough to do so.
(edit) You can check out http://www.fastcopyinc.com/orionpres...trek_axiom.htm
for some information. There's also a link to a wiki article on the project. And I exchanged emails with Joseph Kerezman who confirmed he was in the original Yorktown fan film, and was surprised to hear that they were trying to get back into action.