The producer of Castlevania: Lords of Shadow, Dave Cox, recently tweeted a link to CVG's article with "24 titles that will define 2012", included was Castlevania: Lords of Shadow 2 - described by CVG as "Originally outed by the first game's composer, CLOS2 will dwarf the original in terms of scale and ambition. CLOS's shock conclusion (spoilers) hinted at a present day setting, as Gabriel's story takes a cruel twist..."
Dave Cox in turn wrote "Tweeted without comment :)" as he linked CVG's article. While not a full on confirmation it's certainly a strong hint.