Yes, before the current version - in development at Ubisoft Paris - there was an older one, being worked on by Ubisoft Montreuil. And it was a version that, alongside the contemporary urban spaces you'd expect from the series, included levels that were a bit more fantastic. Floating towers, ethereal landscapes, that kind of thing.
Like a Max Payne dreamscape, then, only with rubbish motion controls.
"Oh, how do you know it was rubbish?" I hear you quip indignantly. I can strongly suspect that was but one of the reasons Ubisoft shut development of the game down in October 2007 over "concerns about the game's quality", and handed it over to Ubisoft Paris.
Plenty of concept art at the link below.
Red Steel 2 [Wii - Prototype / Beta] [Unseen 64]