Nope... I meant Star Control IV. There was a Star Control III already, although it wasn't done by Toys for Bob. Although a lot of Star Control fans dislike it and don't consider it "Star Control Canon," I thought it was an enjoyable game on the whole.
Still, I'd hope that somehow, someway, Toys for Bob could do a Star Control IV. I really wouldn't care if they ret-conned SC3, either.
I think you missed the joke they were making. They were pretending SCIII didn't happen because it was all wrong. :P
The problem about a future SC game is that Toys For Bob are owned by Activision and the Star Control IP is owned by Atari. We'll either get a new Star Control game by Atari, or a successor to SC made by Toys For Bob. Personally I'd rather have the latter.
When Sci-FI Channel announced their gaming division, I had written tot Toys for Bob website suggesting they investigate this as a way to get a new Star Control game out there.
I got a polite response back indicating that this was a great idea and they would pursue it, but at the same time, they mentioned that any attempt to use the SC name with any future adventures would probably result in a major lawsuit. They went on to state that one time in the past they had investigated buying back the rights to the SC name and that it was going to cost in the area of $50,000 to obtain the rights to the name. This has been the biggest stumbling block to getting a legit version of a new SC game out there.