I'm a little confused as to why they wouldn't have done exactly that.
This was a rare feat to come so close to the goal and fall short (http://www.kickstarter.com/help/stats). 81% of projects that reach 20% are ultimately successful, and only 0.005% of failed projects reach 81%-99% of their goal.
I think the real failure was not making a stronger final push in the last few days of the campaign instead of the last few seconds. They also should have timed the ending better. Saturday night is when people go out. Sunday evening people are online, and Monday morning after the first of the month is good because a lot of people will be online at work right after payday.
It's pretty harsh to judge a team you've never met by one external symptom that actually has nothing to do with their ability to create the product.
Disclaimer: I know the guys behind the project.
I guess many people tend to look only into Kickstarter's huge successes and assume it's the norm. Really it's a small part of successful projects. I can tell this guy didn't dig much deeper into the Kickstarter dynamics when he has walls of text explaining pledges where simple "plus all previous tiers" would do--and would mean the difference of him getting funded, maybe even generously overfunded.
$28 dollars shy of an all-or-nothing $50,000 in free (relatively) seed money, and they let it slip through their fingers? Call your Grandmother and get her to kick in.
Lots of apologies later, but that doesn't make a project happen. Bad timing.
There's a bit of discussion on the Colorado IGDA list, which is how I know. I also know Christopher, and he is absolutely serious about making the game.
He was disappointed that so many people from the first KickStarter bailed on the second, though; the first one made it to $100k+.