According to this Balance Board Blog story, a game called Wii Move has been confirmed as being in development at PheroseSoft, a studio headed by ex-EA and Rockstar North staffers.
"Wii Move is the first Project from PheroseSoft, a small 7 man team, made up from past members of EA Canada Burnaby and Rockstar North. The game looks to but an unexpected slant on the Wii Balance Board. Look for Wii Move to hit the download service in quarter four 08."
And that's that. No shots, etc. More through the link.