From the Larian Kickstarter comments:
we're not planning on having Night/Day cycles yet. It would be an awesome feature, but given the number of other awesome features that we want, it's very difficult. Right now we're focusing on things like improving combat, 4 player co-op, and a systemic, reactive world that we hope will blow your chainmail socks off!
I just don't see it happening unfortunately. They're going to have their hands full enough already with the current number of vectors in their quest paths.
