Yes, that headline is correct: A whopping two colons in one game title! "Call of Duty: Modern Warfare: Mobilized" is the handheld installment of the popular shooter franchise, which is coming to the Nintendo DS on November 10th, the same day as "Call of Duty: Modern Warfare 2." What a coincidence!
Based on the generic description in the press release, they could very easily be describing the full console version, since "Mobilized" apparently features "an arsenal of cutting-edge weaponry, vehicles and tactics, arming players with precision controls for battle across the world’s most dangerous hotspots."
The release goes on to say that players will be able to take control of vehicles, such as battle tanks and UAVs. Oh, and the AC-130 is also in the game, so you can relive that level from "Call of Duty 4" on the go. "Mobilized" will also have online multiplayer with six modes and server hosting.
Unfortunately even with all these features, I still have no idea what the game's like. No screenshots have been released, so it's really anyone's guess. Developer N-Space has worked on the last "Call of Duty" DS game, which was indeed a first person shooter (with a focus on vehicle mini-missions), so expect something similar for "Mobilized."