Turns out the news I reported this morning might be fake, as Bulbagarden deleted the news item I mentioned there. Sort of odd, considering they quoted the Pokémon Daisuki Club as a source... and a quick check of the Daisuki Club's site (from someone who knows zero Japanese, no less) reveals none of the info Bulbagarden reported was even on there. So was it a hoax? If so, I hope someone got fired. I mean, that's the kind of questionable reporting you'd expect from Pokébeach (who did NOT report on that), not Bulbagarden.
But should we be surprised? I sure am not. Everything on there just sounded ridiculous, especially the "red white" and "blue black" parts.
Update: According to a post from Serebii on the Bulbagarden forums, "Sparkling Blue" and "Burning Red" are descriptives that go along with some merchandise, and NOT part of the form names, while Overdrive was lingo that existed for two years without us knowing anything about it. It refers to when Reshiram's and Zekrom's tails turn red and blue, and is NOT a gameplay mechanic. At least so far.