As far as I know, they're not actively working on a new album right now. I know that Will writes songs while he's on the road, and they've been in the studio a few times (Will tweeted about it in London), so I have no doubt that he's been writing. I don't think they're at the recording stage yet though. They do have about a month off right now so who knows? However, it hasn't even been a year since Losing Sleep, and they're still focused on promoting that record, so I expect we'll all have to wait a bit longer, unfortunately.