Everyone's still pretty tight-lipped at Marvel when it comes to who survives, how it ends, are the other kids really dead, and so many other unanswered questions. Axel hints at a possible new team of heroes formed out of the ashes of Murderworld.
Here's some exclusive Avengers Arena art by Kev Walker featured on CBR. Not sure which issue this comes from, but it must be near the end, with very few teens left standing. Hazmat looks in a lot of pain, and Anachronism is covered in blood.
For the full interview... http://www.comicbookresources.com/?page=article&id=47639