The rumour that Ito was secretly directing FFXV was confirmed to be fake. Also, Ito confirmed at Tokyo Game Show 2012 that he no longer works on FF games and that we should ask Wada if we want him to retun to the series.
Well, I know there was a rumour that was confirmed fake at some point, but then corrected and I haven't heard yet if the corrected one was fake, but even if it is, I still believe Ito is working on FFXV. What he said at TGS doesn't say anything about whether he is or isn't directing XV. He's directing XV. I honestly have little to no doubt that he is.