I speak a little bit of French. Just enough, in fact, to get the gist of what Rayman creator Michel Ancel is saying in this interview. The Ubisoft developer confirms work continues on the long-awaited sequel to cult favorite Beyond Good & Evil, but also says that it'll need better tech than is currently available.
I'm paraphrasing here but Ancel basically says that the game is indeed being created he can't say when it's coming or for which platforms. He also says that the game needs-either better or more—technology to succeed and, when asked if Mirror's Edge was an influence on BGE2, that the work seen in the trailer was completed before he was aware of the EA first-person-platformer.