IMO two things stop it. First, the cost of paying an actual gunsmith to hand fit and tune the actions. Second, the machinery used to make them was wearing out (according to Colt). The only possibility I see of a "new" snake series, is from a company other than Colt making them as a reproduction or tribute.
" The strongest reason for the people to retain the right to
keep and bear arms is, as a last resort, to protect
themselves against tyranny in Government...." - Thomas Jefferson