We haven't heard anything on Leatherface 3D since last year, but it looks like the project is still moving forward. According to Bloody Disgusting, Takers director John Luessenhop is currently in talks to direct the latest Leatherface movie.
A while back, Twisted Pictures (Saw Franchise) acquired the rights to produce a new Texas Chainsaw Massacre film and it was revealed last year that Adam Marcus and Debra Sullivan have been working on the screenplay. There is no new information on whether or not they are sticking to the original plan, but Leatherface 3D was supposed to be a quasi-sequel, taking place 30+ years after the original Tobe Hooper film. We'll make sure to post as soon as we receive more information.