OP, I don't see youngsters shying away from the art of off-spin at all. I still believe it's the easiest art to master and you'll still find the majority of bowlers in the streets bowling off-spin. At the top level, Swann/Ashwin/Lyon have shown that if you're intelligent enough to adapt to demands of the game, you still have a future.
Rely more on flight, turn and speed variation to beat the outside edge of the bat. If you want to be a top-level off-spinner in Tests, then look no further than Swann. If you want to be a top-level off-spinner in ODIs then Ashwin's your man. [MENTION=132916]Junaids[/MENTION] is bang on when he says that if you're a decent off-spinner who can bat then you've got your place nailed down in the team. Otherwise, the management will always prefer a more wicket-taking option such as a fast-bowler or a leggie.