Microsoft recently updated the North American-flavored version of its Xbox 360 site with wallpapers inspired from both Blue Dragon and Lost Odyssey, the two Mistwalker RPGs currently in development for Microsoft's next-generation console. As of yet, an official announcement concerning the two titles' futures in North America has not yet been made, and these two updates do not pose as such an announcement. Aside, acknowledgement of these two titles on the North American site does give more momentum to the idea of their localization, which has seemed likely from the get-go.
As of yet, neither title has been given a Japanese release date. RPGamer will report when these details, as well as any other details come to light.