Lost Planet 2 have surfaced revealing the story's change of focus and a combined team power bar. According to a first-look article in the latest OXM, the game no longer includes a core character instead players create and fully customize their own solider for the ice cold war zone. Teams are comprised of four characters -- with four player co-op -- that each sport their own health bar (aka thermal energy reserves) but teams also share a combined power meter. The "Team Military Power Bar" reacts to team actions, depleting when a downed member of your squad respawns for example.
It appears that Lost Planet 2 attempts to increase the scope of the action instead of the original game's plot. Teams can attack foes with many different strategies with various weapons, new melee moves (described as, "a little like the chainsaw in Gears of War") and VS units (Lost Planet's mech-like suits) at their disposal.
If that isn't enough to whet your appetite for the surprising sequel, OXM describes a battle against a three-story high boss that ends with a team member jumping inside of the downed creature's mouth (presumably in search of Luke Skywalker). Lost Planet 2 is currently planned for the Xbox 360 but other platforms are still a possibility.