The above diagram (available via the MetroBus website) shows the intentional junction for the guided busway with Cumberland Road, and the re-routing of the harbour railway as a result. The large sweeping curve into Butterfly Junction is gone and replaced with a halt alongside the Bond Warehouse, whilst the ‘Barn’ is retained.
This was the view this morning, the platform in the final stages of removal, and the pointwork rails removed.
The track has been removed as far as the foot crossing to the chocolate path.
Bristol Harbour Railway Blog 
Any plans to extend the line over the bridge towards the main line?
Hello David, no there are no plans to extend. The bus system will occupy the trackbed over the bridge.