Olympic fencing appears to be safe for the present and has even been expanded to include Women’s Epée. Since the IOC perpetually changes its roster of Olympic sports, nothing is certain beyond Beijing. Although fencing is one of only four sports to have been involved in every modern Olympic Games since their inception in 1896, it has been mentioned in the past as one of the disciplines that may be eliminated from future Games.
Fencing recently underwent numerous revisions to its rules and structure to improve its value as a (televised?) spectator sport, perhaps in the hopes of improving its Olympic viability.