I think if there was a chance of him releasing it, it got squashed by the fact he's on the new show and it's doing so well and he's a pivotal character. Why allow it to "leak" out now? He's getting paid well, he's doing the best work of his career, and chances are it'd look corny in comparison.
I'd still LOVE to see it, if only to see Colicos doing Baltar one last time