The whole trilogy thing was made up as they went along! But whether or not it gets released is up in the air at the moment, as Jim Steinman is suing him for infringement of the phrase and unauthorised use of co-written work.
Whether the new album is "good" or not is of course entirely a matter of opinion. To give you a clue, the Jim Steinman writer/producer/svengali role is this time being taken by Desmond Child, he who has co-written so many hits for such 1980s poodle-permed "rock" monkeys as Bon Jovi, Aerosmith, Kiss and (horror of horrors) Michael Bolton. Just so as you know, like. :-)