No, that title is not a misspelling.

It looks like Metal Gear Rising's development has shifted from being an in house Kojima Productions to Platinum games and has a very apparent shift in tone. Despite the story now taking place after MGS4 it looks like Raiden has gone all crazy bloodthirstily cyborg ninja again...great. I have plenty of respect for Platinum Games but this has now immediately shifted Rising into a wait and see category. Its looking much more like a Baoynetta-styled hack and slash game then an interesting take on Stealth Action hinted at a year ago. I'm also not a fan of, what I perceive from a short trailer at least, as a huge shift in story and "gamefeel". The E3 2010 trailer felt like another entry into the Metal Gear series, this latest one again just looks like another hack and slash action game. It could be good and it could not but this game is no longer an insta-buy for me and reaks of the "branching" out that usually leads to subpar titles in franchises like this.

Quote Originally Posted by Konami's Official Website
METAL GEAR SOLID: RISING was a spin-off intended to feature the actions and transformation of Raiden, one of METAL GEAR SOLID 2: SONS OF LIBERTY’s main characters, in the lead-up to METAL GEAR SOLID 4: GUNS OF THE PATRIOTS.
However, after Platinum Games came on board, the story was changed to take place several years after METAL GEAR SOLID 4 to give them more of an opportunity to show off what they can bring to the series. Cyborgs are spreading at a rapid pace in the game’s world, resulting in earth-shattering superhuman action at every turn!
The original aim for a combination of stealth and action has also been enhanced, for a more aggressive new focus on pure, exhilarating action.

Naturally, Kojima Productions is still overseeing the game’s story and its world, and is also providing visual direction to ensure METAL GEAR RISING: REVENGEANCE retains the characteristic look of the METAL GEAR series. Though its exact identity is a step apart from the METAL GEAR SOLID games, the blood of the series still flows within this new METAL GEAR.
Kojima Productions and Platinum Games: Two world-class powerhouses among Japanese studios join forces to bring you METAL GEAR RISING: REVENGEANCE . What can we expect from this astounding combination? Keep your eyes on this site for more details!
2011 VGA Awards Rising Trailer

It looks like Konami is going to post a video about what happened to the original development cycle in a few days so hopefully more light will be shed on what happened.