I do believe that Catastrophe Theory will come back one day, but on a much more sophisticated level, when a consilience of Chaos Theory, and the types of understanding that is going on in Hodge Theory and Catastrophe Theory, merge:
http://www.ehow.com/about_5615239_catastrophe-stock-market-theory.html
http://www.imho.com/grae/chaos/chaos.html
http://www.ma.utexas.edu/users/dafr/HodgeConjecture/netscape_noframes.html
http://en.wikipedia.org/wiki/Consilience
http://www.ehow.com/about_5615239_catastrophe-stock-market-theory.html
http://www.imho.com/grae/chaos/chaos.html
http://www.ma.utexas.edu/users/dafr/HodgeConjecture/netscape_noframes.html
http://en.wikipedia.org/wiki/Consilience