Hey Kylie,
Yes still with Tall Emu, if you are set on needing to stick with MYOB for accounting, Tall Emu is your best bet for extending functionality. If you aren't in too deep and have the ability to switch to an all-in-one system with accounting CRM/ERP all on one platform, it may be worth looking into it. That being said if you are willing to persevere you will get to the point of Tall Emu being stable and working well.
I am amazed that we were running our business just on MYOB, Tall Emu unlocks a lot of features. You have to be creative, Tall Emu doesn't always tell you how to use their system, you figure out what can make with custom layouts/filters/automations. Tall Emu is tailored towards making their system fit your business rather than the other way around, makes it hard to set up and confusing to start but once you figure that out and all the implementation issues are out of the way it is great.
RE: MYOB selling back to the original owner, my impression is that there was a bit of a culture clash. They didn't ditch it because it was bad as much as it wasn't what they were hoping it would be. There is a reason MYOB is so locked down with functionality, more freedom for the user means more support required, which means very switched on tech support not something a Billion-dollar business can handle... Very different business model. That being said when they decided to ditch it things were going very bad we were looking at moving away but as others have said issues have been resolved under new/old management.