Vulture has a new interview with Jack Black, and the last question they ask is about Frank or Francis:
Is Frank and Francis totally done?
I wish that it would fucking happen, but I think it is a little too expensive for how ambitious it is. It is a very surreal and dark look at Hollywood. I fucking love it. We are just about 10 million dollars shy of the cost to make it, so if anyone out there reading this can scrape together a cool 10 mil, this thing can happen. (Source)
Time to break another Kickstarter record?