Seems like it!
http://meodia.com/news/829/hydrophobia-official-website-goes-up/
"Countdowns, call them lazy advertising or exciting mystery clocks, but they do let you know that something is going to be released soon. The current countdown I’m interested in is the Hydrophobia countdown which will show us/tell us something in just over 6 days.
Hydrophobia by Dark Energy Digital was a promising survival-adventure game being released for the PC, PS3 and Xbox 360. It saw the hero try to save a massive ocean-liner from terrorists, if you’re picturing Steven Seagal right now, stop it. The game is nothing like that and it was due out in March...last year!
Well Hydrophobia has resurfaced but sadly for PC and PS3 owners the game underwent a retooling and is instead an exclusive Xbox 360 title and will be coming out in episodes.
Oh yeah and Hydrophobia has really good water physics, fancy that? A game based around water has good water physics."