Ohey, search now actually works on the forums, so I was able to find previous status update from Lar where he mentioned all the projects with some details:
a) A Real sequel to ED full price game to be released on all major platforms b) An Isometric low budget spin-off to possibly only be distributed digitally c) A Browser game of some sort d) And finally a multiplayer-focused title, either an MMO (seems unlikely that they would invest in a full scale MMO but maybe a browser MMO) or something with an emphasis on cooperative gameplay
So, it seems that Project E is a standalone game, not related to sequel. The "MMO"-thing he was talking about is most likely DC (though, he explicitly stated that Project D is not a part of these 4; just how much games Larian Studio is developing now?), and browser game is the iOS game (project A).