According to Bryan Farney's overview of Section 337 Actions in the ITC, we should be expecting a decision now from the ITC on whether they will launch an investigation into the complaint:
Within 30 days after a prospective complainant files its complaint with the ITC, the Commission determines whether or not it will institute an investigation. If the Commission decides that it will do so, it then refers the investigation to an Administrative Law Judge ("ALJ") who sets the ground rules and discovery schedule for the investigation, as well as a target date for the final determination. The hearing, during which the parties present evidence, cross-examine witnesses and present arguments, takes place approximately three months before the initial determination due date. The ALJ then issues its initial determination, which the Commission may review at its discretion. Finally the Commission issues its final determination by the date set by the ALJ. The Commission's final determination then stands unless the President disapproves it.
According to the docket above, the current status is "Pending Institution" which I believe means "pending the start of an investigation". Obviously, I'm not a legal expert, so I could use some help translating this phrase.
On a related note, D2L announced that the U.S. Department of Justice has opened an investigation of Blackboard's acquisition of ANGEL two weeks ago.
Finally, some Bb customers are perceiving what looks like an incongruity between Bb staff and the actions of their highest officers.
Update June 4 2009The Washington Post reports that the ITC will indeed launch an investigation into the Section 337 complaint filed by Blackboard against D2L.