Personally, I've decided to err on the side of caution here and not post anything about my experiences with Insomnia, or the e-mail we received, until I'm completely sure everything's in order. All I will say is that I was put into contact with some great people, but also had a lot of things I always knew about the comic industry underlined for me.
As for the future of Babble... All I'll say right now is that Bryan Coyle and I are assessing our options, re-arranging our schedules, and making sure our prior commitments are met. I'm confident that we've come out of this with whatever small reputations we've built for ourselves reasonably intact. Personally, I seem to have emerged from the downtime with a bunch of strips lined up for Zarjaz, with a pretty stellar array of artists attached. More on those later, though (although, if you can't wait, go and check out my portfolio page to find out who they are).
In the meantime, be sure to go and pledge some money and grab yourself a copy of The Sleepless Phoenix anthology via their Kickstarter page, a huge book put together by former Insomnia creators. All of the proceeds from this will go to the Comic Book Alliance, who provided invaluable help, advice and support to us all during Insomnia's death throes.