It appears that months of rumors pointing at a possible "remastered in high-def" release of Ico and Shadow of the Colossus can be put to rest, for the most part.
According to Japanese gaming magazine Famitsu [via Siliconera], high-def versions of Ico and Shadow of the Colossus will launch as individual titles, not as a bundle, when it arrives in Japan. No release date information was revealed.
Although the collection itself has yet to be confirmed and it is still unknown if Team Ico's classic titles will see release outside of Japan, recent retail listings keep hope alive. Yesterday, German Swedish retailer Webhallen added box art for the games listed as a collection, which has the exact same box art design as the God of War Collection. (Note: All four titles were published by Sony Computer Entertainment.)
Separating the titles in Japan is not a new concept for software bundled in other regions. When Nintendo released Wii versions of Metroid Prime and Metroid Prime 2: Echoes, Japanese gamers were forced to purchase each title separately while the rest of the world enjoyed received the games in a bundled package.