Just mere weeks before Arc the Lad Collection is finally released since it was first announced over two years ago, Working Designs' newest project has finally come to light. Growlanser II, the strategy RPG from the geniuses at Career Soft, will be their next release; Atlus published the title in Japan, as Career Soft is now a subsidiary of the company. The game was originally released in June of last year; Growlanser III was released just this past December, but there's no indication if Working Designs will also pick it up.
Career Soft is the core team that worked on Masaya's Langrisser series (minus both Langrisser Milleniums for Dreamcast and WonderSwan), and includes character design by Satoshi Urushihara, who is also well known for his Langrisser art, as well as his soft-core hentai in Japan.
Currently retailers are listing a September 30th date for a Working Designs release. Whether this is Growlanser II or not couldn't be confirmed, but given Working Designs history of lengthy turn-around times for localization, we would advise you not hold your breath.
If you'd like more information about Growlanser II, you can check out RPGFan's screenshots, artwork and packaging for it.