In an interview with Famitsu, translated by 1UP, Grasshopper Manufacture president Suda 51 announced Lollipop Chainsaw. The game center around a cheerleader, just turned 18, who's school has been overrun by zombies and judging by the title, it's easy to imagine what she does regarding the situation.
The game apparently won't actually be very gory, replacing sprays of blood with sprays of pink light. This is done as an artistic choice more than anything and is not a form of censorship.
I think this game sounds just a amazing and insane as Shadows of the Damned and that can only be a good thing. The idea of not having any blood in the game sounds like it could certainly suit the whole 'pop' style that Grasshopper is going for. I also have to say that anything that comes from Suda 51 is bound to be crazy and will always get my attention, can't wait to see more.