There's a big difference between making a big noise and making no noise. While the teams in the last expansion may not have been as visible as USF1, they certainly weren't totally silent like this proposed entry. In fact Nick Wirth would tell anyone who would listen about how Virgin were going to develop a car with CFD only.
AFAIK they've been accepted but have yet to pay for the entry.
They threw away the CFD only concept because they weren't moving up the grid. Now we've had a couple of years and still the same results (except for the fluke Mocaco points). Time to go back to the more cost friendly CFD only again? Maybe its an opportunity for a new team?