On October 20th, Moss' twitter account said they are still working on the game and would have an announcement next month (so around now). But that's the last news I've read.
Lack of success in Japan is evident in the case of the XOne, but could a "Raiden V" move a couple of consoles? Is that feasible?
Regardless...I wasn't aware the XOne allowed for any region locking. Looking back at the X360 I think the game will most certainly be made incompatible with all regions outside Japan just to piss us off.
I wonder if they'll drop the XB1 version and just make it on Steam. They've already got 3 and 4: Overkill. Why not up it with ports of the classics to drum up hype for the next one?