That is Backwards Room (original song is Run, Rambi! Run!) by zyko. I loved what he did with that track, and definitely wouldn't put it down so quickly since he accomplished creating a mysterious track and creating an atmosphere of urgency within it. It also helps that it has a more aggressive nature as well, which is fitting for how he approached it. There are only minor things I would've probably changed, but my role is mainly of organization and offering the occasional suggestion.
I don't think Mazedude gave a name to the track, but it's his take on Bad Bird Rag - he finished this one quite a while ago, fairly soon after he staked his claim on the track when we were first soliciting people for the project.
As for when the project will be released, I'm not sure - we still have a few tracks that need final wavs and some that are close to done. We also have a need of artwork and website. With djp being busy with various site stuff, and with the FF4 project probably going to be finished ahead of us, it might be a half an year before this project gets released.