Well, the truth is it was back in 1999, which as hard as it is to believe, was 20 years ago (sob!) with the late Marin Mazzie and Brian Stokes Mitchell. So it's a whole generation later, and another revival is indeed appropriate.

Kelli O'Hara and Will Chase in rehearsal. Did they substitute a fireman's carry for the spanking?
I saw a video of O'Hara recording "So in Love" for the cast album, and I must say it was excellent. Of course, this is 2019 in New York City, and I could not find any photos of the spanking. Investigating further, I found that one critic (Matt Windman) reported the spanking had been cut, along with some other material - the PC police just couldn't stomach using the spanking for publicity, as practically every professional and amateur production has since 1948. They must be betting that today's young audiences wouldn't know about the spanking and wouldn't object to the bowdlerizing of a stage classic, and sadly, given that Millennials are the worst-educated generation in American history, they may be right.
One odd note - O'Hara mentioned in a Tweet somewhere (God, I hate Twitter

If you haven't been there lately, New York City today makes the one Snake Plissken escaped from in the classic movie seem pleasant by comparison, so I can't recommend it as a tourist destination nor can I recommend the show (unless they had the sense to restore the spanking
