Abrams actually said a lot of important things, so here's his full response to the question yesterday:
"We're actually working on an idea right now… The key obviously at doing any kind of sequel, certainly this film included, is that it better not be a business decision. If you're going to do something, it should be because you're really inspired to do it. It doesn't really have to mean anything, doesn't mean it will work, but it means we did it because we cared, not because we thought we could get the bucks."
"We have an idea that we thought was pretty cool that we're playing with, which means there will be something that's connected to Cloverfield, but I hope it happens sooner than later because the idea is pretty sweet."
Again, don't read too much into his response, but it sounds like they have an idea and, as he says, they want to do it "sooner than later" because it could be pretty damn good. I'm not one of those Cloverfield fanatics who is foaming at the mouth for a sequel, but I enjoyed the first one, and would love to see a sequel that ups the ante in some way, rather than just re-uses the monster. I have more confidence in J.J. Abrams than I do most filmmakers out there, so if he claims he's got a good idea, then I'm all for it. Let's hope there is some truth to this update and Abrams isn't just stirring the Cloverfield pot yet again, just to appease the fans.