According to Shock, the sequel will be written by one Sean Hood, the art director turned screenwriter that horror freaks will no doubt remember from flicks like Cube 2, Crow 4, and Halloween 8. No word yet on who'll be directing the sequel, but hey, Rupert Wainwright's last gig was that abysmal remake of The Fog, so he's probably up for this assignment.
[ Note: The film is not actually going to be called Bleed Harder, but man wouldn't that be funny? ]
UPDATE: Screenwriter Sean Hood has a few things to say about the project (and working in the horror field in general) at his brand-new blog. Check it out.