Oh wow, you picked an interesting time to post this...
I was pretty much the lead modeler for the thing, working on HTLing all the Tiigran ships Bengal cooked up. It depends on who you ask really but I personally lost interest in its development due to creative differences.
1: I'll leave answers about the story question up to Bengal if he pokes his head in because, as I mentioned, creative differences, but you would have gotten to see both Shivan and Tiigran space.
2: Yes, there are a few laying around, some of which I probably still have, including an HTL Sipahi model.