Just the other day I was wondering aloud "what ever happened to Weird Al" myself. Every so often he makes a "comeback," has a bit of time back in the spotlight but then vanishes again. I suppose he's been keeping busy with cameos here and there, plus he still has his legions of loyal fans who come to shows no matter how long it's been since the last album dropped.
I guess the reason he hasn't made anything recently is because there are no good radio hits worth parodying these days. Music over the last 5 to 10 years has really been horrible, not to mention "hit songs" nowadays last about 4 weeks. They come and go like flavor of the month fads, and the average pop-listener's attention span can only be measured in nanoseconds, so by the time he got to recording a spoof the original song would be long forgotten and stale. Besides, I couldn't imagine a Weird Al cover of some shit by Amy Winehouse or Lady Gaga. It must be pretty hard to come up with lyrics paralleling "Fergalicious."
At least Weird Al should get some face time in front of a camera at Michael Jackson's funeral in a few days.