[UPDATE] Capcom has officially announced the game, dubbed Anarchy Reigns in the west, whereas the original title is use for Japan. They also released a few screens, one showing Jack in his full-colored outfit. To be honest, they should have kept him in good ol' B&W. Check after the break for a shot of Jack from a teaser trailer released, via Joystiq.
Since disbanding from Capcom, Platinum Games' key figures have had their hands full. They started off with Madworld, cranked out Bayonetta this time last year, recently put out Vanquish, and now, as Famitsu reveals, his new game is being worked on.
I can't wait to see this game in action. Sadly, seeing as it's an online combat game, being restricted to multiplayer only (ala WarHawk for the PS3) will diminish the chances of me actually playing it.