The new truck will be a major departure from the first generation.
The first generation of the Chevrolet Colorado was never GM's most ambitious project. There was a lot of Isuzu in there, and a fair amount of the design work done in Brazil was aimed at intentionally making the pickup as cheap as possible. The world certainly has a need for cheap pickups, even if they've never been a big hit in North America. However, the upcoming 2014 model for the US market will be a completely different sort of vehicle from the global version.
Australia will also be getting this new version of the Colorado, although theirs will be badged as a Holden. Australians do love their trucks, so it's encouraging to see it being enjoyed Down Under. It just damn well better arrive stateside in the near future before GM changes its mind for whatever reason.