According to the CV of pre-visualization artist for Halon Entertainment, Alan Wake 2 may well be in development.
Althea Gata had a listing of the game (which has since been removed) under her list of projects, which credited her as having worked on in-game cinematics for Alan Wake 2.
As Halon Entertainment created the Deliver Hope advertisement for Halo: Reach, there's a good chance that the studio is responsible for creating CGI for the possible sequel to Remedy's horror-themed shooter.
It remains to be seen whether the game will be a part of Microsoft's E3 announcements, but chances of that happening are pretty good.
