http://www.n4g.com/ps3/News-476013.aspx
There is no downtime, says the magazine – the game simply exists as multiformat: two testers play the console iterations whilst a third edits the game live. Everything is shared, the engine powering all three versions together – “there is no port”.
Crytek have stated all 3 are running simulataneously, and, Ps3 magazine in Feb sat down with the game running pn PS3, issue will be out in March.