No, Limbo was abolished by the Church this year
Their argument was:
Our conclusion is that the many factors that we have considered above give serious theological and liturgical grounds for hope that un-baptised infants who die will be saved and enjoy the beatific vision. We emphasise that these are reasons for prayerful hope, rather than grounds for sure knowledge. There is much that simply has not been revealed to us. We live by faith and hope in the God of mercy and love who has been revealed to us in Christ, and the Spirit moves us to pray in constant thankfulness and joy.
What has been revealed to us is that the ordinary way of salvation is by the sacrament of baptism. None of the above considerations should be taken as qualifying the necessity of baptism or justifying delay in administering the sacrament. Rather, as we want to reaffirm in conclusion, they provide strong grounds for hope that God will save infants when we have not been able to do for them what we would have wished to do, namely, to baptise them into the faith and life of the Church. [1]
So, basically, Jesus loves little kids, and wouldn't want them to burn eternally.
On a side note, it's amazing that the Church can abolish a doctrine which has stood for hundreds of years. Kinda makes you question the rest hey...
[1] -
http://www.catholicculture.org/libra...fm?recnum=7529