I think it's just another stunt and they are having fun stirring up the message boards and rumours. My bet is still that the real format will be some form of AC or CHR. (mainstream AC, Hot AC, Rhythmic AC, CHR, rhythmic CHR, etc.) I also wouldn't count out another news/talk FM as being a distant possibility. Clear Channel could easily move their big syndicated talkers over from Citadel's WGOW and give them a run for the money. (News/Talk would be the only male format that I could really see since it could be sold with sister stations US101, The Legend, and Rock 105, without stealing listeners from them.
But, personally, I think that is a long shot. I'm still thinking it will be a female targeted format with some form of AC or CHR.