Maybe it's because I'm living in Florida now (be jealous!), but I don't remember this attraction being announced for Hurricane Harbor? And then this popped up on Great Adventure's
Facebook just now!

King Cobra, the U.S.'s first cobra-themed tube racer, will strike at Six Flags Great Adventure's Hurricane Harbor this summer!
Pretty neat!
UPDATE: Apparently according to this
press release this Tube Racer is
replacing the Drop Capsule slide the park was supposed to get.
Has anyone done either of these? Which one would have been better for us to get? And why couldn't we just have both!
UPDATE 2: More photos have gone up with the
official attraction page!

New this summer, Hurricane Harbor brings you King Cobra. This intense and visually stunning, racing tube slide is the first of its kind in the U.S.
The bold orange, black and yellow scales of King Cobra do little to camouflage the thrills that await you. This unique configuration enables two tubes to race through a circular path with twists, turns and surprises through enclosed and open sections of the slide at speeds of over 30 mph.
King Cobra's finale features a sudden, 25-foot plunge at a 50-degree angle with you racing to the finish as it appears you're about to be swallowed by the mouth of this massive cobra.
KING COBRA BY THE NUMBERS
Height Restrictions Height restrictions are TBA
Ride Category Thrill (MORE LIKE THIS)
Length: 256 feet
Max Speed: 32 mph
Introduction: Summer 2012
Manufacturer: Polin
And there is a video! You will have to go to their page to see it, I can't embed it