Definitely funereal; also see Oh, RIM. Can Nothing Go Right? (WSJ)
Developers at the conference were reportedly disappointed. "If they had introduced a BBX device that would be ready to go tomorrow, people would be jumping up and down...But they didn't, so that was a bit frustrating," said one. (To be fair, we did get some details: BBX will offer 100 open source libraries, will support HTML5, and will include a graphics framework called Cascade UI. Still, a press release announcing these details isn't the same thing as letting developers loose on an actual, functional OS.)
Meanwhile, RIM's own decline is something like a slow-moving car wreck. It needed to pull off a Hail Mary at its conference; it doesn't appear to have done so.