Perhaps I'm being naive, but I really do believe that Herve has plans for a MMORPG based on Fallout.
That being said, I don't expect it to be like the development other MMORPG. Its been two months since Interplay evicted from Arden. He can't have any staff left after all this time. That means a different route.
Interplay, even at its peak, never had the staff to create a MMORPG. Either Herve has no clue (which is very possible) about the deep pockets it takes to create one, or he will outsource the whole thing.
It seems far more likely that he will find some company with a large financial base to fund the development of FO:OL. This unknown company will create the whole thing from the ground up, and Herve and his closest buddies will receive nice fat checks for the privilege of using the Fallout concepts and name.
Considering his past actions, I'm wiling to bet that the "new" Interplay, will be nothing more than a front to receive money . . .a place to justify his own existence as CFO/CEO, using the fantastic ideas created by other people he let go. That is the reality of the "new" Interplay, just an office location to sign contracts.