As far as I'm aware she is still dead, but then she's a non-powered supporting character, for those dead really can mean dead. Not often, but sometimes.
What a pity she is still dead. She was a very strong woman whith a strong profile. I always saw her as the "real" girlfriend of warren, not psylocke. But i know that for people, Betsy is more "cool". Its unfair the way she died, she was very brave for a simple human. She was part of the team sometimes and also became leader of the New Defenders. Very good for a simple secondary character. I'd love if she returns someday, as part of the phalange or something.