As you may have expected, the stealth element is no longer present in Revengeance. In the interview, Platinum CEO Tatsuya Minami said that stealth was the first element to go when Platinum took over. Kojima now says he never wanted stealth in there.
Update: Additional excerpts from the article reveal Bayonetta main programmer Kenji Saito as Rising's director. Bayonetta director Hideki Kamiya is not involved.