If there is no enough market demand, make no sense for them to keep a pipeline just to sell a bunch of guitars, nor to start a Variax II project. A production pipeline costs lot of money, and we all know how little Yamaha cares of niches products. Also, the Variax technology is really old, so to me looks like it's the right time to move on.
Im not longer using the variax tones, they are thin and lifeless for me these days and software is totally unusable on modern OS, so I dont care much anymore, but still I have to say my JTV 59 has one of the best neck profile and best fretboard feeling I have in my arsenal. Means I will be still using my JTV as a regular guitar for many years to come, and that always been the real bonus of these instruments.