Blizzard has yet to confirm the existence of a new game in the series and could just be using Reign of Terror as a temporary name, or a name of the merchandise line at the show. Following the speculation surrounding the new job posts, we had confirmation from the team at Blizzard themselves. This includes a $14 poster and $25 men's and women's shirts.
So, no new game, at least not in relation to Reign of Terror. Nevertheless, we know the legendary dev/publisher has something new in store regarding their hellscape franchise, something besides the Nintendo Switch port.
Fueled by horror, rainbow-sugar-pixel-rushes, and video games, Brittany is a freelancer who thrives on surrealism and ultraviolence. On November 2nd, from 3:30 PM to 4:15 PM EDT, we'll likely see for certain what this branding is all about - before Overwatch, Hearthstone or even World of Warcraft.
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Business Insider recently asked about this potential feature during a gameplay demo, and a Blizzard representative said "it's a question of when, not if", which seems pretty certain.
While discussing Blizzard's plans for the company's upcoming BlizzCon 2018 expo, an unnamed representative from the studio hinted that Diablo 3 cross-play is an inevitability that fans should expect to see. One thing I will say is that the tagline "Reign of Terror" sounds nearly like a promotion rather than a game title, and it would seem a little foolish to have the game leak via the Blizzard Store.
Whether or not Reign of Terror ends up being the title of a new Diablo game or expansion, we won't have too long to wait for the truth as BlizzCon 2018 is less than a month away.