Multiple Oddworld games are currently in development.
The previously shelved Oddworld: Hand of Odd is being remade by developer Just Add Water. Hand of Odd was originally announced in 1998 as a RTS spinoff to the Oddworld series, but it was cancelled a year later and 'Command & Conqueror with Oddworld inhabitants' never materialized. The new game is slated for a 2012 release.
Just Add Water plans to modernize the original design by making a "more casual rather than more intense" experience, and will be taking cues from oft-derided (but popular) games like CityVille and FarmVille. No specific platforms have been announced, but the studio is "looking at" the iPad, Android tablets, Facebook, PC and Mac. PS3 and 360 versions are unlikely since touch screen/mouse interfaces are viewed as essential for the game.
In other Oddworld news, Just Add Water also announced that they will be making an HD remake of the 2001 Xbox launch title Oddworld: Munch’s Oddysee for the PS3. The game is slated for release for in October and will coincide with the Oddboxx bundle that will contain all four of the Oddworld games. Unfortunately, the PS3 HD remake of Oddworld: Stranger’s Wrath has been delayed to sometime later in the summer.
It's not yet known whether or not the HD remakes will be coming to the Xbox due to publishing issues with Microsoft. If the games do make it to the 360, fans can expect Stranger's Wrath at least a month after the PS3 version is released.