A developer who worked at Nintendo listed two titles in his resume that may point to Project H.A.M.M.E.R. being revived.
Project H.A.M.M.E.R. was on his list, but the more interesting bit was that there was a very similar sounding game called “WiiCrush” that is also a 3rd Person Action title for the Wii. These titles may not be related at all, but considering you are crushing things with a massive hammer in Project H.A.M.M.E.R. and their in a similar genre it could be likely they are the same title or a different approach to the title.