Huh, I thought I'd discovered something interesting. Trust people here to have found out about it 3-4 years previous.
ANYWAY.
This is still going, and seems to be making some good headway. From what I've read they're planning on releasing a Quick Battle mode as a demo of the game where you choose your ship and those you'll fight against.
As a primer. Star Trek: Excalibur is a fan made game focused on creating the Star Trek universe as a sandbox. Players will be able to command their ships from the bridge, giving orders to their crew, walk around the inside of their ship, as well as interact with the other factions in a way that seems similar to X3: Albion Prelude (That is factions will expand, interact with and trade with each other, produce ships and go to war).
Neat aspects of the design to me are the aforementioned walking around inside your ship, combat will be more about disabling subsystems rather than destroying outright (I think they're desire was for battles to not always end with the death of your opponent like in Star Trek Online where enemy ships are really just that), and the planned high moddability of the engine allowing future mods to change the universe to other settings, like Star Wars.
They've got a number of screenshots on their forums, but maybe they don't show up unless you've got an account because I've seen a number of posts talking about screenshots that I couldn't actually see.