I don't know if it is true or not, as everything was top secret when I was at OWI last year, so I didn't get to see anything new. (Just in case people try to ask me if I know or something, I don't!). But keeping a very open mind, we all need to remember what it says on the official site in the updated FAQs.
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We are currently not in production on those titles at this time. Oddworld is presently working on a title that is concurrent with the evolution of the Quintology, but unique from our previous games. So even though it is unlike anything we've released so far, we think you'll agree it couldn't have come from anyone but Oddworld.
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Now it doesn't sound too far fetched at all. And I think thray-walsh is referring to this year's e3 in his post, not last years. Although I would wait until we hear a more "offical" view on this before believing or denying otherwise.
Abe Babe...