http://www.herogames.com/forums/showthread.php?t=63478
Report from the Hero Announcement #2
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The meat of the announcement is that Cryptic is indeed going to be coming out with a Champions MMORPG called Champions Online, probably due out in 2009, though that is a WAG on my part. In an interesting twist, rather than Cryptic licensing the Champions Universe from DoJ, they are buying the Champions and Dark Champions IP (except Harbinger of Justice ), and as part of the deal are licensing the rights to print RPG books for those IP back to DoJ in perpetuity (and DoJ doesn't have to pay for it).
DoJ and Cryptic will be working closely together to help insure that any changes to the CU for Champions Online get reflected in the CU books that DoJ will be publishing. Both content-wise and appearance-wise.
Important Note: Cryptic is NOT buying the Hero System IP, just the Champions and Dark Champions IP.
Another Important Note: Champions Online will not be a Hero System MMORPG. My understanding is that Hero is planning on releasing a guide to allow players of Champions Online to recreate their characters in the Hero System at some point after CO comes out, but that it will NOT be using the Hero System itself.
Cryptic has also licensed the Hero System from DoJ so that they can use HERO terminology to describe things. Cryptic has also said that their plan is that CO will have an unprecidented level of customizability in character creation. There is the chance that if Cryptic and DoJ agree that the level of customizability is up to the standards of the HERO System the game may also get hung with the title of HERO Online. Though DoJ retains the right to say "no" on that.
One of the design features that Darren mentioned that Cryptic is looking at implementing that would allow you during character creation to create your own nemesis.
There is also every chance that there will be DoJ produced books that have bits and peices that will be useful for the CO players. Behind the scenes type things.
Oh, and Important Thing: DoJ will be getting access to Cryptic Studios art for publishing in their books.
Important Note from Steve: HERO 6th will in no way be "dumbed down" to make it more appealing to MMO players. I'll note he says this as an MMO player himself.