The PC PowerPlay website describes the issue's content as such: "We travel to BioWare's office in Edmonton for hands-on time with the series' first foray into online gameplay, and chat with Mass Effect Series Producer and Mass Effect 3 Project Director Casey Hudson about the decision to go multiplayer in the epic battle for the galaxy."
They also underlined "war" on the cover, so you know it's serious. EA has yet to officially announce any multiplayer functionality (be it co-op, deathmatch or renegade death-chat), but it's practically an obligation at this point. And not just because of all the magazine covers -- publishers probably can't imagine releasing a third-person shooter, even one with RPG elements, without multiplayer in the year 2012.
Update: Here comes OXM with the spectacular conclusion to "Mass Effect 3 will/won't have multiplayer." It will. Gasp!
Update 2: Casey Hudson tweets that the multiplayer consists of co-op missions. There goes our dream for death-chat mode!