According to the LinkedIn profile of Paul Robinson, Game Director at Ubisoft, the mode is being strongly considered.
"We are doing some exciting stuff, and if you are a leap mp designer, drop me a line."
MP, obviously, stands for multiplayer. Duh.
The game is overgoing a total makeover right now using the Splinter Cell: Conviction engine, according to CEO of Ubisoft Yves Guilemot.
The survival-horror is due out in the company's FY11 period for PS3 and 360, although if it makes it out this calendar year is unknown.