That's what Engadget are reporting.
We've received hard evidence from within B&N that the Nook is being discontinued, with sales to seemingly continue until stock is exhausted. The outfit is encouraging retail partners to not send out any "bulk requests" for the Nook 3G, as there simply "will not be sufficient quantities to fulfill those orders."
I haven't heard anything on a new Nook, so I wouldn't think that B&N were planning to launch a new device. Also, there's nothing new at the FCC and all of B&N's existing FCC paperwork is linked to either the NookColor, Nook 3G, or Nook Wifi. Then again, the NC didn't show up on the FCC website until after the press conference.