For reasons that have yet to be confirmed, it seems that Mickey Rourke is out of the Iron Man 2 business.
A little while ago, we heard (among a slew of other casting rumors,) that Rourke would be on board as a yet-to-be-named villain for Iron Man 2. (Iron Man vs. Randy the Ram? Would you like some yams? Do people still send candygrams?) At that point, we were left with questions about which villain Rourke would portray. Some reported that he would play the Russian equivalent of Iron Man, Crimson Dynamo. Other sites reported that he would play the whip-wielding villain, Whiplash. It seems that we now have our answer. As Rourke told New York Magazine quite unambiguously, "Right now, we're not doing Iron Man 2."
That, apparently, is the end of all that. However, Rourke was not all gloom and doom. It appears that the idea of him being involved in the WWE's upcoming Wrestlemania 25 is far from dead. Week after week, Rourke's name has been involved in wrestler Chris Jericho's worked (meaning fictional) heel (meaning "bad guy") tirade against the "wrestling legends" of old. This culminated in a "confrontation" on Larry King Live. While it seems that a direct match between Rourke and Jericho is out of the question, Rourke has expressed a clear commitment to be a part of the event.
"We're gonna go in support. Vince McMahon, Roddy Piper, and Rick Flair* have been such a part of the movie ... So whatever support I can give back to all those people from WWE, I'm gonna do that."
Various wrestling sites are still speculating as to whether or not Jericho will wrestle the retired "Stone Cold" Steve Austin (who will be inducted into the WWE Hall of Fame just before Wrestlemania.) Rourke, in that scenario, would likely be involved in some way that would cost Jericho the match and get some retribution for all the public smack-talk. (If that actually spoiled the match for you, then you obviously haven't been watching wrestling long.)
*Note: NY Magazine's misspelling of RIC Flair's name.