Not sure about #2, but I can answer #1. Our next announced titles include:
- Ragnarok Odyssey (PS Vita) - Coming this fall (planned for October)
A Monster Hunter-esque action RPG set in a heavily Norse mythology-inspired world. Most notable for its gravity-defying aerial battles and the fact that your main opponents are giants, so there are lots of large-scale battles against enemies who are 1000x bigger than you. Also allows up to 4-player multiplayer, either locally or online.
- Orgarhythm (PS Vita) - Coming this fall
A cross between a rhythm game and an RTS. Uses the Vita's touchscreen for everything, and is all about ordering troops by tapping icons to the beat and drawing lines of offense/defense. Kind of reminiscent of Patapon + Pikmin.
- Unchained Blades (3DS) - Release date unknown
Already released for the PSP, but a 3DS version is also planned for sometime in the near-ish future. This is a hardcore 3D dungeon-crawler with an anime spin to it, and is notable for featuring the work of numerous famous artists in its character designs.
We haven't specifically announced anything beyond those three titles, but we are looking into the possibility of releasing other games on Steam, including other Falcom titles (Ys and otherwise).
And of course, we've been working through Trails 2 (Sora no Kiseki SC) all this time, but we're still nowhere near done and nowhere near ready to announce a completion date. The game's got well over 3 million Japanese characters to work with (the average RPG has only around 200-400k, with large-scale RPGs like Final Fantasy XII having only a little over 600k), so it's a long-term project. But rest assured, we haven't abandoned it.