It doesn't really sound like there's much to this rumour.
It's pretty clear that Crytek doesn't have devkits yet, the bit about using DX11 as a spec is ambiguous and they even said that the console HW specs haven't been nailed down yet.
Then the bit about MS revealing at E3 2012 is speculation from the Crytek dev (provided you believe the rumour). So it's not much to go on yet and certainly nothing to get excited about.
When, by the end of the year, we start hearing rumours from anonymous developers that their devkits have arrived, and we start seeing dodgy shakey cam photos and video on Youtube, THEN we can all get EXCITE!
Until then keep on trucking Crytek and keep on finding out more clever ways to leak us info. (use of questionable unnamed website = plausable deniability?
)