That's the abbreviation that Suda51 wants people to use for "Shadows of the Damned", the action-thriller game. The game was announced at Electronic Arts's conference in Tokyo with Goichi Suda, Shinji Mikami, and Akira Yamaoka presenting their collaborative project.
The game has Garcia Hotspur, hunter of demons, venture into the City of the Damned to rescue his girlfriend and tear into demon orifices with this:
Not too much else was revealed, but expect the game to be released sometime next year for the PS3 and Xbox 360.
You can watch the trailer and see more images at the official site.