So I was grossly wrong (and disappointed), unless this is some kind of sick joke by Nintendo (unlikely), there will not be Pokemon Z. Instead, they’ve just announced the next generation Pokemon Omega Ruby and Alpha Sapphire. A “fresh take” on the original Pokemon Ruby and Sapphire originally released in 2002.
Crossing my fingers that it will actually be a whole new game, story and not just a 3D rehash akin to the FireRed and LeafGreen generations, littered with new mega evolutions.
But who am I kidding? Definitely will be preordering Alpha Sapphire due to release worldwide November 2014.
Addendum: Predicted by a certain UltraMario256 last year in January. Holy crap!