The original Just Cause was one of the earlier open-world action games, and if I recall correctly, there was a heavy focus on driving, things exploding, and people flying through the air, both with and without the aid of parachutes. A cursory glance at this latest set of screenshots indicates that Avalanche studios isn't straying all that far from formula for Just Cause 2. You are still Rico Rodriguez; you're still on a tropical island; and you're still overthrowing an evil dictator. The only thing that has changed is that the island is in Asia this time, and Rico has a grappling hook, two facts that shouldn't take away from the driving, exploding, and flying, so it's all good.
Look for Just Cause 2 to be released from whatever Square Enix winds up calling Eidos in the 3rd quarter of 2009.