Oh, those wascally wesumes - they've outed Crytek's latest project, an unannounced shooter based on new IP.
A new FPS from the team behind the original Far Cry and Crysis isn't that surprising, but a cancelled third-person shooter also mentioned is a bit of an eye-opener.
Another ex-staffer's credits include mention of a cancelled game called Redemption, which may be the TPS in question.
Crytek is currently working on Kinect title Ryse in addition to this mysterious new product. Unless they have three games on the go - not impossible, mind - you can probably put those Timesplitters rumours to rest for a while.