Yes, the Squier Jaguar short scale is discontinued. The replacement model now is a mid-scale Squier CV Jaguar.
I tried the CV Jaguar this past weekend at a store. Pretty good from what little I was able to play on it. I already have a midscale (the Fender Urge in my user pic) so I knew what to expect. The tension on a medium scale feels better to me, the tension, the length of the neck and it's not that much of an adjustment from a full scale bass. I did try some short scale basses while I was there to see how well it would work for me, but preferred the medium scale. So now it's either a CV Jaguar or an Ibanez Mezzo next for me.