Some music has been floating around for a few months that may or may not be new Avalanches material, via the mysterious website Pinchy & Friends. Most recently, a couple weeks ago, a mixtape titled Cool Gays by Cool Gaze appeared featuring "A track that may or may not be The Avalanches."
Last night, the Avalanches tweeted, "Mix not by Avalanches..snippet is 12 y/o Avs demo." So in other words, they say they didn't make the Cool Gays by Cool Gaze mix, and "A track that may or may not be The Avalanches" is actually a demo from 2000.
However, it looks like the new album is going full-steam ahead, with guests including Danny Brown, Jennifer Herrema, and Ariel Pink.