I suspect so, but fervently hope not.
Dual-stat effectively raises the price of the book while reducing content (for Conan OGL fans). If I'm spending $25 for a book that has content that's 100% usable in my game now vs. $25 for a book that's 33% fluff, 33% OGL, 33% RQ - you've effectively reduced my usable content. Since the book costs the same, I'm also now paying more for the content I am getting.
It's better than having OGL abandoned altogether but it's still a tough sell.
I can appreciate why Mongoose might do this but ultimately I think it would prove to be a bad thing. They might see a short-term boost, but I think long-term it would be detrimental to sales of the game - either through OGL fan attrition, or attrition of both OGL & RQ camps being unsatisfied b/c of the divided content. RQ-fan adoption of a Conan RQ is an unknown quantity but I suspect it wouldn't be as large as the Conan OGL fanbase. (Just my gut.)
Long-shot Alternative Scenario: Conan/Hyboria goes systemless ala Freeport. Mongoose produces OGL & RQ versions of companions. You get your Hyrkania sourcebook crunch-free and then buy the Hyrkania OGL companion or Hyrkania RQ or Hyrkania Traveller companion as desired.
Hopeful speculation: The books are returning to full-color, necessitating a change in the print schedule. Content is unaffected and remains OGL.
Wishful thinking that ain't gonna happen: Conan remains OGL but includes some modifications or agreement that make it compatible with the Pathfinder SRD. I'm not even sure that such a thing would change Conan OGL content one ioata, but it would link it to the effective d20 SRD replacement as crafted by the de-facto torch-bearer/successor to the 3.5 SRD/OGL. (I don't even know if it would make any business sense to do so but since we're wildly speculating...) Such an agreement might have to wait until the ink is dry before "Pathfinder compatible", Pathfinder SRD/OGL language, or some such could be added to the books/covers.
Ultimately, who the hell knows?
I hope that whatever the reason it:
A) makes the current Conan fans happy (I'm all for bringing in new blood but don't alienate the current fan base ala 4e)
B) Is a big enough deal to justify pushing the books and making us wait 4 months just for an announcment. I don't want to be scratching my head thinking "We had to wait... for this?".
Mongoose hasn't let me down so far so I'll wait and see and assume that I'll be happy in November.
(But for the record, having to wait that long for an announcment SUCKS. Y'know, just in case you're wondering...)