CalvinK

I agree with Charles etc on this. Invision must not be held back by old and insecure software.
I however am with a host (Servage - I am happy to name and shame) who do not offer a PHP version higher than 5.4 at the moment, so I will also be affected by the decision of Invision to remove support for PHP 5.4.
However I do not blame Invision for ending support. I blame Servage for not keeping up to date with technology. The decision of Invision has led me to contact Servage who state they are moving to a new control panel that will support greater versions of PHP than 5.5. However there is no ETA at this moment in time.
YOU are the customer. YOU have the power. I have made it clear in no uncertain terms that I will consider moving hosts if they do not pull their finger out, and I intend to move hosts if I do not receive a satisfactory answer.
TELL your hosts the truth. The fact that PHP 5.5, 5.6 and 7 are all stable versions of PHP. Most hosts will state PHP 7 is unstable and that is a blatant lie. What is usually the case is that they have a custom control panel which doesn't support PHP 7. They should be aware of PHP 7 and updating to add support as soon as possible.
TELL your hosts that by not updating their versions of PHP they are not taking seriously the security updates that have come with PHP 5.5, 5.6 and 7 and that by hosting with them they are leaving your websites open to attack.
Don't blame Invision for discontinuing support for a version of PHP that has been EOL for a while now... blame your hosts and tell them you are unhappy that they will not take the concerns seriously. Only with pressure will they perhaps decide to act more responsibly as hosts.