Taking this article at face value, this news appears to be official. To be released in 2012, Lego is producing a set with miniature versions of its modular building series. Several people in the bulletin board linked above remarked that the set seems awfully expensive at $80 US. However, with 1,356 pieces, the price per brick is about $0.059, which is slightly less than the price per brick for the modular Fire Brigade (10197) at $0.067; The only set I can recall off the top of my head which might be cheaper per brick is the Tower Bridge (10214) at $0.056. Anyway, it looks like there are tons of the tinier more specialized pieces in this set, which might make an interesting set for parts.
Between the announcement of this set, and the Miniature Castle Contest, this must be the season for miniatures.