It was shut down. The reason they gave was that it was just not part of their plans, but I think pretty much everyone agreed that that reason is BS.
Zack, the actual answer is no. Taiganet has been around about as long as the TWCMB. Taiganet was originally a site for people who played a game called Counter-Strike. Bill ran a CS server, and that was his CS forum. Later on he started the emulator, and both shared one forum. Eventually he got out of CS and removed the CS related boards. Interestingly, if you look far enough back, some CS related content still remains on the forum.