It would have been better if it went like this...
"I'm sorry he broke your heart. I know how you feel."
If the writers did THAT, then we would have a Terra reference.
*EDIT* I wonder if they'll revive Terra or will the writers do a Terra II arc, like they did in the original comics?
According to what I learned at http://www.titanstower.com
There was a point in the comics that Terra came back. However, it was just a girl with similar abilities. She was kidnapped by some mysterious group, her memories were erased and she was manipulated into believing that she was the original Terra.
Anyhoo, however they choose to bring Terra back (IF they decide to), she would either join the Titans, join Titans East (keep watching the show), or wander the world, ashamed of her past sins.
Long story short: I want Terra back!