Yes, the fairly big update to Atmosphere.
Also not sure on the hype about it being a "glimpse of the future." (Native Instruments are MUCH better at that.) But yes, quality sound engine by the looks of it, plus many improvements over the rather limited Atmosphere engine, and of course a HUGE sample library. I suspect that, like Atmosphere, it will be a LOT of very big, complex presets that you will go "wow!" to, but never actually use unless you want quick "hold down one key" film-scores. And the price is also a tad high.
I was looking forward to it, looks very editable, but I'd wait to see if the price goes down and all the bugs get ironed out. There have been problems with the first generation.
You will, I think, get more bang for the buck with Native Instruments Komplete ... especially if you can find the reduced price on it.