When contacted, Track7games were like "Wtf! This title was never in development for the PS3". Ok, so they weren't that vocal, but you get the gist. They've even put up a notice on their official site to clarify this mess that goes something like this:
PS3land.com wrote an erroneous article on June 29, 2006 regarding track7games and our upcoming game, Theseis.
Track7games would like to clarify that we never cancelled something that did not exist in the first place. We plan to develop Theseis for PC and Xbox360 in the near future. As for the PS3, we simply made a strategic decision to not move ahead because we deemed it not probable at this time.
PS3land.com has removed the article since this clarification and has apologized for any sort of confusion caused.