So...what did happen to Iron Lore? Serious question, btw.
Well the whole thing started out wrong with Titan Quest, with huge involvement from THQ that made all kind of ridiculous demand for the game.
For one, did you ever wonder how come there is no blood in a game that is labeled as "hack n slash"?
Check out this topic for more info: http://www.grimdawn.com/forums/showthread.php?p=37225#post37225
There are also a few interviews that go into detail about the creation of the game.
The game wasn't a commercial success that THQ wanted and I for one do see why, the game has some solid mehanics, but to me always seemed somehow off.
After Titan Quest and it's expansion the team was sacked, but they had to make one more game because of their contract.
So to get most out of the deal THQ gave them to develop DOW: Soulstorm, I don't even need to get into how nonsensical this decision was, not to mention cruel being forced to make a game with a boot already up your ass.
The team functioned as a contractor as most devs do these days with THQ holding any licenses, so don't expect them to make any profit for any TQ games sold.