Well, here are reasons it's likely Red Steel 2 that NP is hinting at:
(1) Red Steel 2 is an obvious good idea, and something that SHOULD be coming out soon.
(2) Same colour scheme in the image.
(3) Red Steel was about apprenticeship in a fashion. "Young grasshoppa" seems to fit "apprenticeship" rather well.
(4) "Bigger", "better", "bolder", "bloodier". Obviously a sequel to something. "Oh, and it's online". Sounds like it's a sequel to another game that was decently liked (but obviously criticized for some shortcomings), and lacked decent multiplayer - including online. Red Steel falls into that category very well.