We present a follow-up X-ray and radio study of the field containing the 7-s X-ray pulsar AX J1845-0258, the serendipitous ASCA source whose characteristics are found to be similar to those of the anomalous X-ray pulsars (AXPs). Newly acquired ASCA data confirms a dramatic reduction in flux from the pulsar and reveals instead a faint X-ray point source, AX J184453.3-025642, within the pulsar's error circle. This X-ray source is surrounded by a partial shell of emission coincident with a newly discovered young shell-type radio supernova remnant, G29.6+0.1. The central X-ray source is too faint to provide a detection of the expected pulsations which might confirm AX J184453.3-025642 as the pulsar. We argue that this system is similar to that of RCW 103, another AXP-like object whose central source displays low/high flux states (but no pulsations). The alternative interpretation of a binary system, perhaps associated with a supernova remnant, is still possible. In either case, this result may have profound implication on the evolution of young neutron stars. Comment: 4 pages, to appear in the proceedings of the Bologna Conference on "X-ray Astronomy 1999: Stellar Endpoints, AGNs and the Diffuse X-ray Background" (Astroph. Lett. and Comm.)