I emailed LG 9 days ago asking them about the 4.4 Update, and yet to of gotten a response. So I feel hopeful, because they didn't say no, but they didn't say yes. So I am staying skeptical.
As far as the lack of development goes, thank this rumored KitKat Update for that. I have had some responses about inquiries I've made telling me, no ones trying to do a port, official mod or work on a phone that's going to get kit kat. They would of wasted their time, and all their work would of been in vain. So they just won't attempt it.