Regardless of what the hell it is...it looks awesome!
I wish Thorpe Park would invest in it's entrance soon. I haven't been this year so not sure if they've done anything about it but it is/was awful. The temporary galvanised steel fencing is horrible and the ticket booths are too slow. The car park and this need sorting. I think it is on their 10 year plan but needs to be done sooner rather than later.
It has also been revealed recently that Alton Towers are also getting a 4D cinema attraction which will show an Ice Age short film aparantly based on the second movie. Sounds great :)
Two are headed out to new dungeons in Germany, which leaves two ABC towers. One will presumably be the concept ride at Alton which could leave one for Paulton's?
I agree that I dont think the new ride at Paultons will be a drop tower as such, but you cant rule out the possibility of it being the Space Shot from Loundoun Castle.