The authenticity of the post has purportedly been verified by forum admin Tomacco. For those who can't let the dream die, it could still be an Xbox 360 retail title, but we'd have to see a massive drop in the standard price or some heavy-duty features (Katamari MMO? 720p?) to justify a $60 price point.
The EGM-fostered rumor also mentioned PlayStation 3 and Nintendo Wii iterations; the former seems likely, as the Katamari franchise has historically been linked to Sony, but we're not holding our breath for a Wii Love Katamari.
[Via bits bytes pixels & sprites]