Yes, it still technically continues. And yet with the buzz of an imminent end so loud its earpiercing, it ain't over till it's over. The biggest announcement Oscar-wise? No, not that the show will go on. But rather, that the "Vanity Fair" after-party has been called off (it would have been that famed A-lister bashes 15th). Here's a link to the New York Times article.
The WGA Awards will be announced on Saturday and the Guilds on both coasts are planning meetings for members to discuss the latest developments in the negotiations (see Hollywood Reporter story). Variety today had an article that described the striking today as the "last day of school."