Tapestry of Nations ended at the end of the Millenium Celebration, and yes, it was changed to Tapestry of Dreams, which split the parade in half, one part starting in Mexico and ending at American Adventure, the other starting at American Adventure and ending where the Millenium Village used to be. Let's just say they were trying to hang on to something good and at the same time, saving a little money. No one liked it, cast members and the guests alike. They had a hard time filling the positions in the parade and guests didn't like it because quite frankly, EPCOT was never designed to have a parade go through it, so it quietly disappeared.
New parade in EPCOT? I really don't know if they would attempt it again, but its never out of the question.