Working?

It's an insanely complex project that requires highly specialized skills that one can only acquire from years of higher education and/or experience. Then you will have to spend hundreds, thousands, maybe tens of thousands of hours over several years, maybe a decade, on reading documentation and doing research, writing tests, writing code, debugging code. There is literally no payment or reward whatsoever for successfully completing any part of the project.

So no, right now very few people are actively working on it. You may now understand why...

That said, it's not impossible that Star Ocean: The Last Hope (?) does boot, maybe even goes in game. If you have the game just try it out. Maybe use the Catherine settings with or without libvdec and libfs, that usually takes most games as far as currently possible. However it will definitely run at 3 fps, if it runs.