Gamespot gave an update on this on their recent podcast...apparently the school is letting him graduate with his class now, as long as his parents agreed to take all the "weapons" he owned and confirmed that he wasn't a danger to himself or others. They also found out that the "swords" were actually "decorative knives" that had been completely dulled and wouldn't hurt anyone. Leave it to the media and school to jump to conclusions so quickly.
I think the whole thing is just ridiculous and blown out of proportion. It'd be really fun to play a counterstrike map modeled after any building that I'm at frequently, not because I actually want to kill people in the buildings in real life, but because it would be a fun interactive experience. It's not like he made character models after his principal and teachers...that might be a little overboard and I would probably see those as warning signs for something bigger. I still find it funny (although it's not at the same time) that after how many years since Columbine, we still can't get school security right.
The Virginia tech shooter didn't make any video game maps, but he was clinically insane and made threats to people and constantly made teachers feel uncomfortable, yet nobody did anything. The day of the shooting he had time to kill people in the dorms, film a ridiculous video of himself & take pictures, mail them out to NBC, then return to the school to go on and kill 25+ people. This country will never make sense to me.