[ChibiGoku]

I didn't see a thread on this, but looks like the project is confirmed. Press release (in English) is as follows:

Spin Master Entertainment Teams up with Shogakukan-Shueisha Productions Co., Ltd. to Bring Tenkai Knights to Cartoon Network

Spin Master Entertainment and Shogakukan-Shueisha Productions Co., Ltd. (ShoPro) are proud to introduce, Tenkai Knights, a new animated TV show, which will debut on Cartoon Network later this year.
Saving the world is serious business and should never be taken lightly. It is only for the brave of heart. Guren, Ceylan, Chooki, and Toxsa were not planning on being heroes when they accidentally stumbled into an inter-dimensional portal. Ripped through space and time, they reemerged on another world as Bravenwolf, Tributon, Lydendor, and Valorn… the legendary Tenkai Knights!

"We're so excited for Tenkai Knights to be launching on Cartoon Network," says Spin Master Entertainment's Jennifer Dodge, Executive Producer of the series. "Together with ShoPro, we plan to tell great stories about the Tenkai Knights and their adventures.”

Akira Fujita, ShoPro’s Executive Director says, "We are thrilled to be working with Spin Master. The partnership of our two companies fuses leading innovation with great storytelling. We are excited to now introduce Tenkai Knights to children around the world!"

As a follow up to the world-wide phenomenon Bakugan Battle Brawlers, Tenkai Knights will feature 52 episodes, webisodes, an interactive website as well an extensive toy line, complete with a full 360◦ integrated marketing campaign.

Spin Master is responsible for distributing Tenkai Knights in North & South America, ShoPro in Asian territoriers, and VIZ Media Europe in EMEA territories.

Source: ANN, Today Licensing Worldwide

Not confirmed if Bones is working on this just yet, but it's likely. Since it's being co-produced with a Canadian partner and already licensed for the Western market (including Cartoon Network), I can only hope that this gets a proper dub, regardless how toyatic in nature this turns out to be.