Just looked at the FAQ for this game, and saw that the information stating that hot-seat multiplayer was going to be implemented has changed to state that they're dropping it for lack of interest.
When did this happen?
In any case, glad I didn't end up buying the Founder's edition, as this is 100% a deal breaker for me. Guess I won't be buying GalCiv3 after all, which is too bad since I was really looking forward to the game.