What Happened To The Boycott Initiative?

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Nothing. Plain and simple. The initiative was just not getting the good press that it needed. I'm thinking it's just not as popular as other people wanted it to be. It's hardly a hot topic. I don't see any major headlines about it. But why?
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The greater majority of people around the world seem to understand the logic. I wouldn't go as far as saying people love the Olympics more than they care about what's going on in Myanmar. But I would definitely say people don't see China had a hand in any of the developments in Myanmar. China did a wise choice though. It spoke it's mind over how they think countries of the world should address the situation in that country. Telling the rest of the world to let the Myanmar's people resolve the issue by itself was a better move than remaining silent about the whole situation.

As the Beijing Vice-Mayor have recently said the moves to link China's role in Myanmar is both "unpopular and inappropriate". It is just most other people in the world see it. He went further to boast that China has played a constructive role in the Burmese situation.
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Now unless the government in Burma are killing people to prevent them from participating in the Olympics, or killing athletes to favor other athletes or any human rights violations that would seem to look like it was motivated by the Olympics, it would be very hard to convince the silent majority of people around the world that Boycotting the Olympics is a wise thing to do.
On a little side note, Kathy Sinnott, a representative of Munster Ireland to the European Parliament has admitted she will "probably not" get the support of fellows in the the European Parliament to support the boycott of the Olympics. Meanwhile another MEP from Ireland Colm Burke that "boycotting the Olympics will not sent the right message to the Chinese government" Related news found below.
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Here's some related news:
China tells critics not to politicize the Olympics
Munster MEPs disagree over call for Olympics Boycott

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