First off: no, Battleblock Theater isn't coming out this year. However, there is some progress toward an eventual release of the XBLA platform/brawler, with developer The Behemoth announcing that "we are excited to be hitting the home stretch with development of this game."

Though the developer warns of "many rounds" of testing, submissions, and other work between now and release, Battleblock is apparently complete enought to make it through ratings boards, which is also a good sign. The ESRB rated it "T," by the way, with content descriptors warning of "Blood and Violence" - one of which you can see in the image above.