I highly doubt that they will reveal the 3rd installment anytime this year. But I do expect a new Mystery Dungeon and/or Pokemon Ranger to be revealed later this fall, released spring 2012, or revealed spring 2012 and released fall 2012 since by then Black and White will have been active for a good 6 months worldwide, enough time for the World to settle in with the new generation. Either way we will be getting a new pokemon between that time period. As for the 3rd installment (I refuse to call it Grey ><) Im hoping that the name will be revealed spring 2012 and released fall 2012. Its either that or the Remakes of Hoenn will be announced, then followed by the revealing of the 3rd installment. Kind of like what gamefreak did with Pokemon Firered/Leafgreen and Emerald which was released after FR/LG.
Why would Nintendo do that? Just the 3rd installment exclusive for the 3DS? Many people dont want to spend over $250, actually more than that if you also buy the game. It would be wise for Nintendo is they save the 3DS entirely for the 6th generation. That way it would give the world enough time to even purchase the 3DS, and by that time Nintendo will already have developed the sequal to the 3DS, just like they did with the Nintendo DS, and DS lite. All of generation V should be played on all nintendo DS systems, not just one game for a specific console.
And Im not going into name details.......again lol you guys know how I feal about "Pokemon Gray" xD