Some time ago Microsoft announced that VBA is not, in fact, dead yet.
They assured not having plans to remove VBA from future versions of Office for Windows. To this time the next version was 11 better known as Office 2003.
Microsoft also tried to clarify that they think that VBA is a critical capability for large numbers of our customers; accordingly, there is no plan to remove VBA from future versions of Access/Excel.

This announcement isn’t really up to date. In the next release of Office (Office 2007) they didn’t commit to either drop it or continue it.
Although Microsoft Office 2008 for Mac does not include Visual Basic for Applications support, Microsoft has no plans to remove it from future PC versions.

VBA was a great solution for MS Access “applications” and reports. MS Access is great for whipping up simple reporting apps but it’s too hard to maintain for larger apps.

Tons of applications are built on MS Access. What will happen to Access and VBA?

Some people assume that some changes might happen to it, such as rebranding JET and/or increasing the 2GB limitation of the MDB filesize.
Others long ago already have dated the death of both caused by the leadership role of .NET languages and the way how they are getting boosted by Microsoft.

At begin of development of Windows Vista there were plans to use MS SQL Server for the filesystem. This would have made Access become redundant.
Status quo is that Office 2007 still has Access and VBA on board and MS SQL Server is not used for a filesystem.

Classic VB developers are spooked because Microsoft is ending support for VB 6.0. This is a gradual process, some level of support is promised until March 2008 and possibly longer if you unravel the threads of how VB relates to VBA, and the fact that the runtime ships with Windows XP which will be supported for seven years after Windows Vista is released.

All those information arouses my suspicion that sooner or later Access will be obsolete and VBA will get replaced by a .NET language.

Even thougth I personally didn’t ever like VBA, much less because programming skills in VB(A) are not that good, I think that VBA and also Access have played a big role in development history, not only because almost everybody who learned programming some years ago gained experience with it.
Also most Windows boxes already have the VB runtime, whereas deploying the huge .NET runtime can be a major hassle. If this is really important nowadays remains to be seen.

On VBA’s MSDN helppage I found following:

As of July 1, 2007, Microsoft will no longer offer VBA distribution licenses to new customers. Existing VBA customers can still purchase additional VBA licenses from Summit Software and Microsoft for existing solutions.

One of the frustrations of this decision is that moving to .NET is not all gain.