For what this is worth, commercials are running around the local Houston market for Booker’s PWA promotion. Booker is featured in the commercials and he refers to himself as Booker T, not King Booker. There is also no reference to him being part of World Wrestling Entertainment.
Right now there is nothing definite one way or the other regarding Booker’s future. WWE.com still lists him on the RAW superstars page, so even if he is gone from the company, they are keeping it quiet.