Crassmaster: Seems pretty unlikely Eidos would spend development money on a port of an 8 year old game that isn't exactly a big name title that will get a lot of attention.
This, pretty much. Also, you have to remember that the original developers are owned by Crytek and (apparently) are working on Crysis 2's multiplayer. That said, I *think* Free Radical (sorry, Crytek UK) still has control over the TimeSplitters IP (they were working on TimeSplitters 4 when they entered administration, after all), and I wouldn't completely rule out a CryEngine 3 powered remake of TimeSplitters 2.