...according to TRMK, Warner Brothers has been working on the game for some months now... and reshooting all of the characters in HD in a studio in LA?! Check it:

http://www.trmk.org/news/13089/mortal_kombat_hd_kollection_confirmed_in_development.html

As exciting as this prospect sounds (after all, it's not April 1st), I'm trying to keep my excitement down until I see some actual screenshots.

In agreement with the article, my guess is Backbone entertainment has something to do with this, as not only did they put out MKII arcade port for the PS3, but they also created Super Street Fighter II HD Remix... so they've had experience in both areas.

Hopefully we'll hear/read something more concrete soon.