I've known this since November of last year, but have been waiting for official word from those at Bible.org to say anything on This Lamp. But as of yesterday, it's official: there will not be a second edition of the NET Bible in 2010.
Why was this a question to begin with? The preface of the first edition made these statement:
“The NET BIBLE text (notes excluded) has now been frozen for at least 5 years.
The next set of upgrades and improvements is planned for release in 2010. "
However, it was "determined that we did not have sufficient major revisions and changes to the text to justify a 2nd edition. In addition a 2nd edition would generate a lot of turmoil with print providers and software publishers who use the NET Bible."
A set of seven goals has been laid out for ongoing revision of the NET Bible which you can read in full at their website in the post "Will there be a NET Bible update in 2010?"
Personally, I believe this is a good decision. The NET Bible as it stands, while not perfect, is much more mature than the average first edition translation, undoubtedly due to the collaborative nature of its beginnings.
For those of you holding out on buying one, thinking a new edition was to be released this year, now you know there's no reason to wait. You should really order your copy today. As I said in my earlier review of the NET Bible, this is a Bible every believer ought to have a copy of, regardless of whether it's used as your primary translation or not.