Expectation release of the character may arrive in March.
http://shoryuken.com/2015/08/25/dead-or-alive-5-last-round-newcomer-should-arrive-in-march-2016/
It's likely to be an entire new character. So I expect the character inheriting a movelist from a previous old character or a brand new moveset.
And for Pete's sake. Enough with the idea that Raidou is the pops of Honoka. It is still unconfirmed and small speculation to the scenario at this point. For all we know, Honoka could of been a captured individual with memory loss/changed memory with Donovan having technology to create a device (glove) to copy other moves and for mass production while Honoka having the first prototype to copy moves. She could of possibly happen to run into Raidou within the facility, basement, upstairs, downstairs, MTV Donovan's hou- Look you get the point.
The timeline does not make sense. (Never made sense to begin with seeing as how DOA plot rambles to a void of unexplained twists and randomness.) There is no information on the timeline and no proof that Raidou added another child to his miserable family life of hate. Just because Raidou is considered a rapist you cannot conclude the situation for him having another offspring. For all we know, his pipe may have been removed and completely gone within the explosion from his pre-death experience and I'm sure Donovan would not invest his time into giving this man a pipe to create more children.