I thought they were still optional, but just no one has ordered the folding wing version yet. Well, seeing as having the wings folded would give it the same wingspan as the DC-10 and allow it to fit into DC-10 parking spaces, it seemed like a very good idea at the time! But as far as I know it's still an option if anyone wants it, though I may be wrong.
From reading '21st Century Jet' by Karl Sabbagh - a must for anyone even remotely interested in the 777 - I think it was American Airlines who requested the folding wing tips, so that their 777s would fit into current DC-10 and 767 gates.
After spending millions designing the modifications (there was to be a slight weight/range penalty) Boeing were understandably a little upset when American didn't sign up to be a launch customer for the 777 such as BA/UA/CX etc.
They were then even more upset when they finally opted to go for the 777, but without folding wingtips.
I'm sure that the designs are still active and you could ask for them on your shiny new 777 if you wanted - but who could use them?
This option was introduced on the 777, however the mechanism added a lot of weight to the a/c, so airlines didn't want them. I saw a show on discovery wings about aircraft, and they mentioned this. I have made a post on this subject a while back... I don't know if its still around, you might get more information if you find it. It was on Airliners.net.
They might have been designed, but I'm pretty sure there is no provision for the equipment, or the necessary structural strengthing and electrical and hydraulic controls in the affected areas. Also, is/was there an area in the flightdeck allocated to control the system?