According to an e-mail by Ken Berry from XSEED it is. Ben sent a tip (thanks!!) and pointed us to a NeoGAF thread where a forum user by the name of Hero of Legend (the same one here, perhaps?) has been gathering requests and pinging XSEED's director of publishing to see if he's aware of them. In response to Winds of Nostalgio Berry flat out says "this is coming to the US".
No word on the publisher, but it might not be XSEED. It's probably Tecmo considering they have an arm in North America and published Winds of Nostalgio in Japan. At Tokyo Game Show I tested out the airship combat which felt just like regular combat in an RPG. Winds of Nostalgio may not reinvent the RPG wheel, but it has high production values. Matrix Software, the team behind Final Fantasy IV DS, developed Winds of Nostalgio.