Netscape is dead, yes again. Yes it’s still AOL.
For quite some time it’s been nothing more than a few extensions and a new skin on Firefox (you can find them here).
Security updates will only be provided until February 1, 2008. So to stay secure, best bet is to plan a migration away from Netscape by then.
Edit [12/28/2007 @ 6:46 PM EST]: TechCrunch has more coverage of the news.