So OUYA is now officially shipping to backers starting on March 28th. So yes, it actually exists and came to pass. It's also going to be sold in stores and at online retailers such as Amazon, Best Buy, Walmart, etc.
Also, since the last post, they stated they are going the smartphone route and updating the hardware every year but making all games backwards compatible with previous generations.
I'm honestly excited. Some of the games they've talked about sound very interesting.