It's called ExchAnge (beta) and not translated to English right now.
Bit disappointed that English is, again, not the actual first project language and it seems that translations will follow about a month after initial releases.
So with that in mind the reason for the cancellation of BxB is as nebulous as ever.
AFAIK the dev had trouble with translators and guessed that may be the cause...
And since the new game features exclusively PNG with many full body varieties as well, the game files will BLOAT again, relative to it's content.
Update:
ExchAnge 1.0 is here (still Chinese only):
Mega
Someone on Itch said that the artist of BangXBang had to stop since Chinese law threatened him. New artist equals new project it seems.