Here's the situation. Last September, before KOTOR:2 even shipped, they laid off 50 employees, including the team that was doing preproduction on KOTOR:3. LucasArts cancelled all internal projects but one at the time (I believe that one title was Episode 3 the Game)
When KOTOR:2 shipped, Obsidian said they'd like to do KOTOR:3 even though LucasArts really rushed KOTOR:2 and cut the game short.
Obsidian also said atleast at the time they were not working on KOTOR:3, and as far as they knew, no one was.
It is possible since then LucasArts handed KOTOR:3 to someone else, but there is no official word on KOTOR:3 other than Obsidian is not currently working on it.
But welcome to the forums.