Tantalus is one of the few Aussie developers that survived the GFC. It didn't emerge unscathed, with the studio contracting significantly during those years when publishers were massively reducing their outsourcing budgets. A recent job posting seeking a senior programmer to work on a Wii U port of an unannounced 'AAA' title suggests things might be looking up for the studio.
Not Enough Shaders picked up on the factoid when ex-Blue Tongue coder Graeme Webb updated his employment history on LinkedIn to include an ongoing role at Tantalus as an "engine programmer" working on a "Wii U port of unannounced AAA title".
Several job openings, posted on June 1 on Tantalus' own site, provided additional evidence. Unfortunately, these have since been taken down, but can still be view in screenshot form on Not Enough Shaders.
Despite having worked at Tantalus for two-and-a-half years, I haven't the foggiest as to what the studio might be porting. I do have some knowledge of the kinds of projects the company has pitched for and I can say that if it's using "AAA", then it's definitely a game we'd consider in that category. In other words, it's not a fluff description.
As an aside, Tantalus recently finished an original IP title for 3DS, called Funky Barn, which was published by Ubisoft.