The evidence for a Solatorobo release in Europe is steadily piling up. Not only does it have a rating at the Australian Classification Board, it has an English name as well.
According to Siliconera, Namco Bandai has trademarked Solatorobo: Red Hunter for the Nintendo DS over in Europe. There's been no indication that it will be released in North America though, and while it's not a given that it will be a European-exclusive release (or that it will even be released in Europe), it wouldn't be shocking.
One reason to be skeptical of a North American release is the emerging trend of Japanese games being localized in Europe, but not North America. Fullmetal Alchemist Brotherhood for the PSP and Naruto Ultimate Ninja 5 were localized but never made it over here, and it seems increasingly likely that Level-5's Inazuma Eleven will share the same fate.
Why wouldn't Solatorobo make it to North America? Its niche status, distribution costs and the decline of the Nintendo DS might have something to do with it. While it's a shame that some of these games might never make it over though, it does give Europe a measure of revenge for all those years where they've had to wait for late, overpriced released of their own.
If you've never heard of Solatorobo, it's a game that could be considered a kind of spiritual successor to the original PlayStation's Tail Concerto. Both Tail Concerto and Solatobo were developed by CyberConnect2, and they share a number of commonalities, such as the fact that they both feature mecha (and anthropomorphic animal characters).
No guarantee that it will exclusive to Europe, of course, or that it will even be released over there. Assuming it does make it is a PAL-exclusive though, at least we can import it, right?