I posted this in a thread that nobody read a couple months ago, but instead of a link, here's the text:
There was a thread about board games some weeks ago, and a few of us brought this up. There are a lot of ways an iPad could be used to assist a traditional D&D game... from keeping track of characters to dungeon mapping, rolling dice, and more. I think the neat thing about D&D is that it is a social game - it includes a lot of interactions between real people. In my mind, this is where the iPad really shines - as a device to enhance traditional social situations. It's something you can move around a group and share. In that way, it's very different than say bringing a laptop to a D&D game.
What I'm trying to say is that there might be a tendency for someone to write or want an app that "does it all for you", but what you'll wind up with is something like everquest or WoW. But with that, you lose the need to be in the same physical space with other people, and the magic of the original game is lost. I think there's a huge potential for the iPad to be something very different. With this, you keep track of your hit points, abilities, spells... if you or the DM wants to "break the rules" or invent some situation not covered by the standard rules, you'd be able to do that. The iPad would be there just to facilitate the mundane tasks of writing things down, and looking things up. That's the kind of thing that's not really possible with fully-featured fantasy games (at least those that I've seen).
I could envision a situation where each player has an iPad running a D&D app... plus a DM has one. The app would include a personal space for stuff you can only see, and a public space for things you want to share. It would also include a tab for "reference" to look up any monster/spell/race/etc... So, you encounter a monster, and go to the public space to roll some dice where everyone can see it. Or, just use regular dice on a table. Take a hit, and go to your character sheet to mark it down. The DM could have some kind of "monster generator / manager" tab that would help him keep track of his end. Another tab could be a free-form drawing space where you map-out where you are, and have little icons you can move around like figures. You could pass secret notes to individual players and plan things...
Sure, that's a lot of iPads... but considering you can use the iPad for other things aside from D&D, it's more a worthwhile investment.
Anyway, to answer your question - I have no idea if anything is in the works. But, I hope so... Even though I don't play D&D anymore (been 20+ years), it still has a place in my heart, and I like to think that people would enjoy the D&D&iPad experience.