Well, if Canon developed 120 MP APS-H sensor, why would they abandon this format now? This rumor seems to be very unlikely.
Good find about the 120mp sensor, Idigi.
Note, though, that this is just a prototype sensor.
It indeed shows that Canon has the technology for a 30mp/9fps camera - at least in a testing/prototype phase.
It's in no way an indication, though, that the technology will be used to actually make APS-H sensors.
APS-H is just a very convenient and economical size for prototypes.
It showcases the abilities of a new technology to scale to FF sensors - while at the same time it's more economical and allows faster prototyping than FF.
APS-H is going away for sure.
From a marketing perspective it's a mistake to offer a lesser sensor in the flagship pro/sports camera when Nikon is offering a FF sensor in their equivalent.
Long term, the perception will be that Canon's flagship is either inferior than Nikon's (if priced lower) or that Canon is overcharging for a lesser camera (if priced the same/higher).
So, Canon actually has no choice but to put a FF sensor in the 1DV. APS-H will just hurt their business.