It could still be - AFAICT it's a Botnet type of a trojan, the infected computers are supposed to open up an Internet Relay Chat Channel, and listening to a certain channel on an IRC server for "further instructions".
And IIRC some of those instructions are to send a data dump of a keystroke logger and other nasty things... But it waits for instructions first because it does no good to send the data it if the other end isn't listening.
And part of the Virus Fighters toolbox is to study all the variants of the worm in the wild and disrupt it best they can. If they can block off the communications channel that the virus wrangler set up to get the information back (by getting that server and channel shut down, or disrupting network access to it of they won't) it has effectively been blocked from working.