I spoke to Len Adams that night (for those that don't know, Len is a master coaster builder and has been involved in many projects, including currently the Starliner Project), and evidentaly they have the plans and matireals to build a mock up to test it. No word on what the layout will be like, but looking at pictures of the old Flying Turns rides, it should be a lot wilder then current bobsled coasters.
The real sticking point right now are the cars. They have plans for the originals, but they must be modified to meet current safety standards, and will have to be built by someone else. They will be very costly, and DK is mulling over the budget for this one.
It will be built, just probably not this year. It seems that it will go into the old Whirlwind plot, and last report is they have finished taking out all of the old Whirlwind footers.