According to The Hollywood Reporter, George Miller is also back in the director's chair.
Wood is reprising Mumble, the penguin who can't sing but can dance the tuxedo off of any waddler around him.
Williams is back as (what else?) the hyper-acting and wise-cracking penguin Ramon; he also voices Lovelace.
Miller wrote the new script, whose details are being kept on ice. Animal Logic again is producing the animation.
The actors will travel to Australia in late January/early February to record the voice tracks.