No, its pretty much withering on the vine.
There are better products out that are getting updated, like rapidweaver.
The audience for iweb has by and large disappeared. iWeb was originally intended for people to show off their pictures on mobileme or other stuff on mobile me. Now that facebook as largely replaced that functionality, there's little incentive for apple to keep the app going.
iWeb was a gateway for people to justify the purchase of mobileme.