To answer your OP ( from memory since I'm on my ipad and can't multitask so well and bring up references)
1. the "Initiative" - the confession posted by Fabio, a proposal for immediate intercommunion, and IIRC a statement that upon full reunion the Melkite hierarchy would resign in favor of the Antichian hierarchy - was officially adopted at the Synod of the Melkite Greek Catholic Church and as far as I know remains the Synod's policy. Patriarch Gregorios and Archbishop Nicholas Samra (soon to be Archbishop of Newton in the US) are among its current vocal proponents. I also believe Metropolitan Cyril of Beirut, formerly Archbishop of Newton, was also among its drafters.
2. Rome responded by saying intercommunion was premature. The Antiochian Patriarchate said essentially the same thing. Some ecumenically minded Orthodox are sympathetic but still say the same thing. And I really can't argue against that, even if I agree with the "confession".
I don't think it is the policy of the melkite Church.
"So far, neither the Catholic Church nor the Orthodox East has accepted the Zoghby initiative. Speaking for the Catholic Church, Cardinal Joseph Ratzinger (now Pope Benedict XVI) commented that "premature, unilateral initiatives are to be avoided, where the eventual results may not have been sufficiently considered." The Antiochian Orthodox Church was circumspect toward his initiative, declaring in October 1996 that "our Synod believes that inter-communion cannot be separated from the unity of faith. Moreover, inter-communion is the last step in the quest for unity and not the first.""
And the Orthodox Church HAS NEVER endorsed it.