The Undertaker will most likely be competing again when WWE goes to Saudi Arabia. The event was moved from May to June, so it is still very likely that he will be working the event.
The Wrestling Observer Newsletter shed some light on the on-going situation between The Undertaker and Vince McMahon. Taker had to cancel his Inside The Ropes Q&A due to WWE. However, he fought in order to be able to do the autograph signings at the very least.
It was believed that it was impossible for Undertaker to do Starrcast and that is what irked Vince McMahon. He was furious with Taker but calmed down eventually. When Taker agreed to the Inside The Ropes tour he thought his career was over, but then the Saudi Arabia show came along.
Undertaker thought his career was over after the match in Australia and started lining up outside paydays. After the Starrcast thing went public, Vince got mad and when things calmed down between the two, WWE made him an offer he couldn’t refuse financially and part of the contract was an agreement he could no longer do those type of dates.
So it seems that The Dead Man will be working with WWE for a while longer. The amount of money being paid by WWE certainly has to be a good amount considering he was making at least $25,000 an hour to sign autographs.