It's been "in development" for over 9 years...
Sponsors and companies (and their logos that graced the Jib-Life homepage) that at one time were associated with the game have disappeared. The developer's journal/blog and updates about the progress have gone silent...I'd say that it's a good bet that this project is on it's way to being shelved for good.
If I'm wrong and there is a small, underfunded, underskilled, yet passionate, group at work on a build, the fact is that it's steadily become a less and less ambitious project, and at this point, I'd be amazed to see something approaching Jibbin' quality.
Not exactly in the league of a console game that drawls heavily on EA's Skate engine that we've all been waiting on since '07.
Having fun at skiing's expense since '09.