There have been rumors circulating around the internet about a third KotOR. I have researched this, and the article/slide/whatever they were referencing was talking about past projects, and those projects that were new were specified as such. So: There is not a new Knights of the Old Republic in the works, and if there is, it hasn't been announced. And it will not be and MMO, that was also a misconception. Most of the uncertainty going around is coming from this article: http://www.gamespot.com/news/show_blog_entry.php?topic_id=26213172 Read it if you wish, but read it in full and carefully, so you don't misunderstand it as some obviously have.
p.s. I searched for this topic and it was not there. The topic "Another KotOR?" was about a modded KotOR 1.
"Some soldiers say that to reach maximum combat efficiency, they need to be in the zone. Sir; I live in the zone." - RC 1207 'Sev' to RC 1138 'Boss'
Kotor 3 has not technically been announced yet, but they would be retarted not to make a sequal to some of the greatest and easily 2 of their most successful games.
As for the MMO, that has been floating around for a while. They have been very careful not to make any statements about the MMOs connection to Star Wars or to KOTOR. However it has been proven it is of the "Fantasy" genre and it is being made by Bioware and Lucas Arts together... so Star Wars, Indiana Jones, or some sort of wild west theme are the best bets. And Star Wars is still popular now, and indiana jones has like 10 games comin out thanks to the movie... so my money is on SW still.
Good... Bad... I'm the one with the gun.
Hail to the King Baby!!