Steve Murphy has updated his TMNT blog with some details of what almost became next season's TMNT series.
The basic idea behind Overload is that the Turtles, while traveling through time on their return home from the Fast Forward future, briefly get stuck in the past alongside their "kid" selves, and then, thanks to the quantum mechanics of villainous plot shenanigans, all 8 turtles arrive in the year 2008 ("home").
This premise was pitched by 4Kids, approved (apparently with a few minor revisions) by Mirage, but shot down by Playmates Toys, who funds 1/3rd of the show.
Playmates then apparently pitched a show that "reached back deeply into the universes of both the original cartoon series and the Archie comics." This was soundly rejected by both Mirage and 4Kids.
Which leaves us less than a year out from the '08 Fall season and with no TMNT show in development/production. The three involved parties all seem to have different agendas. Hopefully they can all work together to come up with a concept that appeals to everyone, including fans.
Here's a crazy concept: Four giant mutant turtles who study ninjitsu with their giant rat sensei live in New York City and fight various kinds of evil. Usually in the shadows. 'Cause they're ninjas. And they do ninja stuff.