Have kept half an eye on this just because of my experience of Dreamfall. Really enjoyed that game even if I did only get halfway through (alas, this was in the bad old days when I could only play half decent games on friends computers!) Been a long while since I saw TSW mentioned anywhere like. I swear I saw a preview for it some time last year. It seems to be keeping a low profile.
Watching the introductory video on the secret war site, I can't help but think of All Points Bulletin, what with the character customisation that appears to be on show. Except this has a story and powers too by the looks of it! >.< Will be interesting to see how it turns out.