Actually, ColdFusion is going as strong, or stronger, than ever before. CF 8 came out this summer, which introduced a more stable and faster server, better PDF and image control, built in AJAX controls, server monitoring and much more. Adobe has really helped to polish the language since taking it under their wings.
I personally use CF for both my personal development projects as well as professionally as I help to design supply chain software for some of the major steel companies in the US. I find it's tools robust, flexible, and still simple to implement. I had worked on websites in PHP before I began working with CF (version 6 at the time), but I found CF to be much more intuitive and I liked it so much that I went and got myself certified as a CF developer.
I've also worked with ASP.NET developers as a DBA, and I just found the syntax confusing and found it's need to be compiled for deployment to be detrimental, especially in a real-time implementation. I also thought it was interesting to see the company I worked for pay a hefty sum for charting tools to tie in with ASP.NET, something which has been built into CF for several versions now.
Recently, the project manager for ColdFusion, Jason Delmore, wrote an interesting post on the features of ColdFusion, and why it is not free nor open source. It's worth the read whether you're into CF or not, because either way you may not realize what you are missing.
As for the future of CF, they're already working on CF 9, and seem intent on helping developers do more with less (which is great because in the office that means more and easier code standardization). I now can do AJAX refreshes with just a few lines of code now, and I'm sure the team has much more in mind for the next version, which will be the sophomore effort under Adobe.