In a recent interview with MTV for his new film "The Fighter", Walhberg was asked about any truth to his "The Crow" involvement, to which he replied he was interested in the director, but there was no working script and no real development going on with it. So he didn't say he had passed on it, but from the comments made, it doesn't sound like the project has any momentum currently. Thanks to criggins for the heads up on the interview.
It sounds to me like the last two years of work on the project/script has yielded nothing, which is never a good sign. Though Walhberg hasn't officially said "no" as we were led to believe, his comments seemed to indicate the project was in limbo, though still on his radar, was not anything he was pressing forward aggressively on.
I will say again; I think it is time to put this reboot/remake/re-imagining to bed. I personally think they need to wait another decade or so for interest to actually be there for the project by those making it and most importantly, interest from fans. I don't see anyone clamoring for the franchise to be "re" anything right now.