So far no one has used the UE Rein was referring to. It may have been cancelled. I remember hearing about the UE3 coming to the Wii back in 2007, it never came. I was expecting Red Steel 2 to use it, but now since I know about RS2 I now know it is not. Ubisoft brought Unreal Engine 2 to the Wii with Red Steel 1, so if it is cancelled it, it was probably Ubisoft that was porting the engine over.
Currently enjoying: Monster Hunter Tri.