I do strongly believe that Tsubasa will be subbed and distributed as always. Why? Because another anime as we all probably have heard of at least once in our lives is still being subbed even after it was licensed (anime I'm referring to is Naruto).
Chances are TRC will be subbed no matter what. It might even be by a lesser known fansub group but it doesn't matter as long as its subbed. XD
Oh and as Arcademan stated, the second season premieres on April 8th (just checked ANN and that's the official date) this spring. ^^;