AFAIK, the supersonic LRASM-B has indeed been cancelled. LRASM-A, based on the JASSM-ER, is continuing development which is expected to be completed in the 2015 timeframe.
My understanding is that, assuming LRASM-A meets DARPA expectations, it will then be up to the AF and Navy to decide if they want to adopt the new missile.
Based on specs, LRASM-A would appear to offer a more powerful, longer-range weapon better able to deal with A2/AD environments.
https://m.youtube.com/#/watch?v=LvHlW1h_0XQ&desktop_uri=/watch?v=LvHlW1h_0XQ
My understanding is that, assuming LRASM-A meets DARPA expectations, it will then be up to the AF and Navy to decide if they want to adopt the new missile.
Based on specs, LRASM-A would appear to offer a more powerful, longer-range weapon better able to deal with A2/AD environments.
https://m.youtube.com/#/watch?v=LvHlW1h_0XQ&desktop_uri=/watch?v=LvHlW1h_0XQ