All exisiting copies were rounded up in 2001 and summarily destroyed, so "Revenge of the Cybermen" will never be released. Rightfully so.
Just kidding. I recently re-watched my old VHS (the first DW VHS ever!), and I find it oh-so-wretched. Even David Collings can't save it.
But, no, no word. The UK has "The Invasion" coming up on DVD in a few weeks (11/6), with the missing episodes "restored" by animation, which should be big fun! We should get that here in the States early next year. Also, coming out the same day with "The Invasion", "Tomb of the Cybermen" and "Earthshock".
Other releases in the UK coming soon: "The Master Returns" box with "Keeper of Traken", "Logopolis" and "Castrovalva"; and "The Sontaran Experiment". We should see those early next year too. And releases should be stepping up in volume beginning next year, as they're going to go lighter on the extras, and reserve that extra work (and delay) for more popular stories. But with the Tom Baker-heavy schedule, I suspect "Revenge" is still some time off.