Won't happen, at least not from Shout. Disney doesn't license out their stuff. The first 1 1/2 seasons were released on DVD a number of years ago, no sign of the rest. My YouTube page, home of The Multimedia Chronicles:
http://www.youtube.com/Zaranyzerak
Agreed, since it's owned by Disney it's not going to happen! And the only legit DVDs that are out are the complete first season and volume 1 of season 2. Volume 2 was canceled because the first season didn't sell enough copies for Disney to sell the rest of season 2 on DVD according to the series creator, Greg Weisman.
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Underdog: Complete Collector's Edition
When the city is in trouble, humble and lovable Shoeshine Boy turns into his alter ego Underdog to stop a series of villains, including the evil Simon Bar Sinister and Riff Raff.