Apparently it's a Failbetter project "down to its bones," and the studio made the rare exception of accepting work with BioWare. What could they be working on?
One possibility, given Failbetter's experience with browser-based games, is that they've been helping BioWare with the upcoming Dragon Age Keep for Inquisition.
The Keep is designed to let new and veteran fans of Dragon Age create world states to be imported into Dragon Age: Inquisition, and there are a far number of decisions to make that would need to be presented in an interesting way to explain choices and their consequences on the game world.
"Keeping secrets doesn’t come naturally to us. We are excitable: we love our work: we love talking about our work," Failbetter. "But for the last year, on and off, we’ve been working in absolute secrecy on a project for a much larger company. When we’ve gone quiet for no obvious reason, it’s because we’ve been heads-down on this. When I’ve mentioned that we don’t take client work any more, with rare exceptions, this is the rare exception."
"We’ve finally been allowed to lift one corner of the veil. I can’t tell you anything at all about the project – not for a little while yet – except to say that it’s a Failbettery one, down to its bones. But I can tell you the name of the company:"
BioWare also has a new Mass Effect in the works and they might be helping with something on that. If I had to bet on a currently known project at BioWare, I'd have to go with the, as it nears closed beta testing.