According to sources responsible for the offering, the talking Mickey Mouse meet and greet in Town Square Theater at the Magic Kingdom will indeed be silenced on May 12th, 2018. This change was rumored a few weeks back, but is now seemingly confirmed.
The reason for this is because of technical difficulties and guest difficulties, but like most things at Disney World, budget concerns are also in play. It’s possible a talking Mickey could return at some point in the future, but for now guests will go back to the silent one here like through the rest of the Walt Disney World Resort.
Mickey will continue to meet guests at this location beyond May 12th, but he will likely no longer communicate with guests.