I found this on www.reallyscary.com
Cloverfield Project (aka 1-18-08) Title Being Released at San Diego Comic Con
Ken Tarallo, an fx specialist, is working on the JJ Abrams Cloverfield Project (now going by the moniker 1-18-08). Ken mentions on his forum that the official name will be announced at the San Diego Comic Con.
Well, there you have it. So, it looks like in two weeks we'll have an answer to that question. Maybe that will give us some insight as to what the hell this movie is about!
Ken Tarallo's site: http://www.frightstuff.com/
Comic-Con site: http://www.comic-con.org/