According to a blurb from IGN, Yukes is currently developing an online wrestling game for Japan, where you can create a wrestler and bring him online to fight others, although at the cost of 500 yen per month. Not much else is known though. So Yukes is at least taking a look at online possibilities.
Anyway, it appears I was wrong, at least for now, as only an article on the CAW feature is up.
Interesting. I'd be willing to pay $5 [aka 500 yen] a month for an online wrestling game.. providing the engine was a good one.