https://consultations.tfl.gov.uk/cycling/cs2extension .
not quite. The 'new' route is combination and upgrade of superhighway 3 Barking to Tower Hill, linked to new route along embankment, then through the parks to Lancaster Gate, Paddington and onto the Westway - they will take out a traffic lane as car use has dropped 22%.
The embankment might look like http://www.youtube.com/watch?v=vJSvdpoVHBk