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According to one of the forum member's friends (at stage1st) who's currently working in KOEI's Tianjin (China) branch. Details are not known since his team just received the notification from KOEI, apparently they are going to redo all the character models (not sure about maps ATM).
You can be as skeptical about this as you want, I'm little doubtful myself. However, the person did mention Dynasty Warriors 7 in development a lonnnnng time ago with details on revemped characters (and he said they are fugly), I believe I posted a topic somewhere on the DW related PS3 boards, but it's been a while and the topic is probably archived by now.
Now... DW7 was indeed announced at yesterday's TGS, the character models are definitely revamped, and they certainly looked worse than DW6's (depending on your taste really). The person also said Liu Chan would be a non-generic character this time, we'll have to see if he's right or not when KOEI releases more info this coming October.
If everything this person said came true, then I think I'll place my bet on his end on the possibility of a Fatal Frame: The Crimson Butterflies' Wii edition under development.
I don't care if the Wii is getting it. What concerns me is which team within Tecmo is porting the game over. Fatal Frame 4 (Mask of the Lunar Eclipse) has already gone to waste by being a Wii exclusive. If Team Project Zero is porting Fatal Frame 2 to Wii, when will we see the next installment back on Playstation and XBOX?
I somehow doubt this is true...or rather, I hope it's just some stupid rumour. After all, Playstation Move is out now. Why would they want to remake FF2 for the Wii, if they could have better graphics (or even 3D, though I doubt that) and the same controls on the PS3? On the other hand, looking at the Tales series, game developers make very weird decisions sometimes....>___<
Besides, I actually agree with what Chupacabra said. While I would love to see FF remakes, I would be even happier about an announcement for a sequel. I also hope that, if they actually make another FF, it will have the same great atmosphere that was present in 2 and 3 (the first one didn't scare me as much, dunno why). Somehow, I found Mask of the Lunar Eclipse to be a little less scary than those two... Maybe that's just me, though.
^^ That is most easily able to decipher as Fatal Frame 2. Both girls have similar designs to what Mio and Mayu wore, only a bit more revamped (A nice slit down Mio's backside; she doesn't have that in the original). The house that they are in is all too familiar. Hello, Osaka house!
This is going to be AWESOME if they release this in the US! My favorite of the FF's. <3