Yes, in fact, I lifted the above pic from the site. The site is basic at this point, and search engines haven't quite zeroed-in on in yet, so add .com to the name.
They appear to be taking the project much more seriously than they are their web presence, and since it's being driven by the family that owns The Boardwalk (among other PIB businesses), I'm inclined to take it seriously. (but I'm trying to restrain my optimism, because Ladd's spoke of a similar expansion a decade ago)
Axel & Harry's didn't open for the 2011 season, but the attached Put-In Bay Marina (formally Ladd's) was being operated separately, and remained in business. Plans for a new operation were announced at the Cleveland Boat Show. They plan to re-open the restaurant and create Key West-themed party patio in the former parking area labeled "Keys Complex" above.
They are leasing the current Fox's/Duggan's docks to expand the marina capacity this year. The physical expansion is planned for the 2013 season. As you can see above, that plan is to push the basin boundaries and entrance out to the pier usually occupied by the Good Time, and add floating docks within.
The big news is that unlike new members at The Crew's Nest, PPBC members will have the ability to reserve docks from the get-go. Perhaps not co-incidentally, a friend of mine who is a relatively new member at TCN was notified that his membership status has been advanced.
*Note: I have no inside source of information - this is just my impression from speaking with the proprietor and being familiar with the property.