So the talks on the settlement were held and, per the Wall Street Journal, the court is unlikely to approve the settlement. (Archive link if you hit a paywall.)

I can't say I'm surprised - merchants correctly called that this was a very temporary and limited concession by Visa/MC and postured they'd rather take their chances at trial.

The written decision by the judge is pending, but per the article a filing on the docket indicates the judge told the parties to the case she is unlikely to approve it.