That screenshot up there is our very first look at the forthcoming remake of Oddworld: Abe's Oddysee. The game isn't even in the pre-alpha stages of development according to Oddworld Inhabitant's Facebook page. Still no information on when the Oddworld update is expecting to be released, though I figure "not for a while" is a safe assumption on account of the whole pre-pre-alpha thing. Oddworld Inhabitants and developer Just Add Water plan on debuting the game publicly during the 2012 Eurogamer Expo, which is going on right now through the 30th.
Full press release from Oddworld Inhabitant's website:
Watch the live unvailing of Abe's Oddysee HD in T minus 17 hours here: