The scene was cut. It was in the script. There was actually a ton of stuff that was shot for this film that was cut out (in chronological order):
-The pre-title sequence had a lot more footage that was shot, showing Bond tracking down the thug he killed in the bathroom during a Pakistani cricket match.
-Valenka (Le Chiffre's female lackey) swimming through the water. This footage can be seen in the theatrical trailer.
-There was a big thing about torn playing-cards that tied into the whole "Ellipsis" deal. Part of the footage can be glimpsed in the teaser trailer.
-Bond and Vesper driving through the countryside with some dialogue.
-Bond arriving on a stretcher at the hospital.
-Bond and Vesper's skinny-dipping scene.
-This was an interesting scene left on the cutting-room floor: Vesper, before leaving in Venice, took photos of Bond while they were in bed together (it makes sense in the context). Later, during the "***** is dead" scene, Bond looks at the photos on the laptop. In anger, he flings the laptop into the water, where it shorts out. This footage can be glimpsed in the Sony products video.
