Maybe. While we were recently updated with word that work still continues on the title, Amunshen informs us that the game may not be at the annual G-Star show in Busan, South Korea, as previously reported. More specifically, researching several articles about the show did not turn up a mention of the game, rather than an actual denial of its presence there.
So, what's the story? Well, with answers to your questions pending (Heat Man is working on the first of them as we speak), hopefully a little light might be shed on what is now happening with the game.