They kinda can't right now, the team blue wing of Arc system works are busy doing Blazblue Cross Tag Battle, a crossover game featuring Blazblue/Under Night In Birth/Persona 4 and maybe 3 and RWBY characters while Team Red is busy on Rev 3 and Dragonball Fighter. I still can't believe RWBY got to make it, the director was a fan of that show and the creator always wanted his characters in a fighting game and it actually happened. Too bad the guy came down with a case of the deads to be able to see it.
BBCT is mostly reusing old assets apparently so it won't be a huge project.
You don't seem very in the loop on things tho.
Both ASW teams have been working on DBFZ, not just Red.