The blog mentions a few possible candidates in David Wain (Role Models), Peyton Reed (Down With Love), and Paul Weitz (About a Boy), but c'mon: A high-end tripod could probably direct this big-screen sitcom schtick. Plus this looks to be a comedy version of the Mummy franchise: Same director for Parts 1 and 2, and then in comes a new guy and ... somehow things get even worse. I'm guessing Meet the Little Focker (or whatever they're calling it) will go to Adam Shankman or Howard Deutch or someone else with an empty spot in their calendar, and the thing will make $200 million regardless. Terrence Malick could do the job and it wouldn't make one spot of difference at the box office.
So yeah: Little Focker is still coming. Maybe this time out they'll get SIX Oscar winners in the cast, only to upstage them with a pooping cat or a farting baby.