Phase 2 was never on the level of the original expansion. There are multiple projects in development for DCA, but they will not all be funded at the same time, as the first round of expansion was. The Grizzly Peak Airfield, Hollywoodland retheme, Marvel coaster, Paradise Pier additions; all are in development for DCA. Some will get the green light, some will not. So no, they are not moving forward with a formal "Phase 2." There are, however, projects in development that will happen over the next decade or so that fans will lump into a sort of "phase 2."
Actually, behind the scenes it was. But Iger and Co. Determined that they had fixed DCA with the first phase. What is being done now is cosmetic cleanup largely, not the MAJOR projects planned.