I heard it called King Kong: 360 3-D. Peter Jackson was talking about about it last year at Comic Con or one of those conventions.
Wikipedia says:
In August, 2008, Universal announced that instead of replacing the attraction with a new concept, It would instead be rebuilt as a new experience titled King Kong: 360 3-D, also known as The New King Kong Encounter and King Kong: The 8th Wonder of the World. The attraction will have Tour guests don 4-D glasses while the tram enters a sound stage. Once inside, they will view a recreation of Skull Island, and the tram will be attacked by prehistoric bats before encountering Kong on the "island". Guests will then witness a new element recreating the fight between Kong and a T-Rex and, finally, the Scene, smiliar to the old attraction, will have the Tram enter 1933 New York City and encounter King Kong in a similar manner as the original attraction, with added HD effects. It will be an homage to Peter Jackson's 2005 blockbuster remake King Kong (which was made by Universal themselves, unlike the 1976 film, made by Paramount Pictures - although Universal owns the rights to that film). The ride will open in Summer, 2010.
Sneak peek article written here:
http://www.themeparkinsider.com/flume/201003/1808/