Correction: Waldorf is not involved with this app, as has been clarified by Russ Hughes in the comments here. My fault, I think I just got used to tacking "Waldorf" to the front of the letters PPG.
Yes it's true; from the Father of the PPG Wave comes the future of synthesis on the iPad... coming soon are going to be sound samples, pictures and more info from the man himself. Like this page to find out more about this exciting new iPad App - it really sounds like nothing else you have ever heard.
Exciting news! The Waldorf PPG Wave is an advanced wavetable synth on PC/Mac, itself a recreation of a high-end synth from the late 80s produced by Palm Products GmbH, which was later absorbed into Waldorf.
The only screenshot we have of the app is this one, held by PPG Wave inventor Wolfgang Palm.
NWave -Click for higher-res screenshot!
I contacted Tempo Rubato's Rolf Wöhrmann for comment. He said that official details would be coming very soon, but emphasized that they are indeed separate apps.
"NWave is a different beast... !"-Rolf Wöhrmann
Waldorf must be taking iOS music pretty damn seriously to be investing in two apps!
Clarification: As Zymos points out in the comments here, Wolfgang is not Waldorf. It may be that this is done independently from Waldorf. That is really unclear, though Waldorf is not mentioned anywhere on the Facebook page. Since PPG has just been a part of Waldorf for so long, I am under the impression that any use of the PPG Wave name is authorized by Waldorf.