Well according to the website they are in "pre-production mode" and 2/3s of the way through the second draft of the script. You can read more if you donate(which I haven't).
I always thought it was ironic... buy season 1 of TNG Bluray remastered for only 89.99 so you can hear Picard preach about how petty money is and how devolved it is to use it! Meanwhile, please donate to our fanfilm!
That tangent aside, I'd honestly be surprised if we saw it in 2014 sometime. This has been kicking around and they've been(and still are) fishing for money for awhile now.