Despite widespread reports that claim Ray Park has been saying he is in talks for X-Men 3, Park told us at "Star Wars Celebration III" it's not true at all. He has not been approached to return as villain Toad in the third installment.
He also gave a bit of an update on Iron Fist, in which he would be playing the title character, saying that it's still happening and he expects things to pick up soon. Apparently the Marvel project recently switched to a new studio.
Source: Scott Chitwood