A new job listing on the Electronic Arts careers page seems to indicate that Crytek is gearing up for a new game using the CryEngine 3, which some have taken to indicate that Crysis 3 is in development.
The "alongside EAGL marketing and Crytek to define the process and work flow."for a video editor in Guildford, UK states that knowledge of the CryEngine is an asset, and that they would be working
While this could mean Crysis 3 was in development, there's nothing that says it couldn't be another IP, whether a new one - or perhaps TimeSplitters 4?
Rumor: Crytek working on new CryEngine 3 game
20 February 2012 | By JonahFalcon