They have announced an 11-city tour this summer although they haven't announced who will be taking vox. Likelihood is that it's Sammy Hagar since he made amends with the brothers over Christmas and has always been pals with Michael Anthony who even plays bass on occasion with the Waboritas (Sammy's solo band). Dunno if this means a new album is planned, but I know that Eddie has written upwards of a 100 songs in his offtime.
Check out VH's official site for more details.