I couldn't find clear information of the level of Direct X 11 support the CryEngine 3 will offer.
There is the chance of a very nice performance increase on DirectX11 cards for the same visual quality.
On the other hand we don't have a Direct X 10 render path now, for which the same, although to a lesser degree would be true.
The whole engine change had no positive effect on the game as far as i can tell.
Overall it was done unprofessional and lacks in every part.
We still are month away from getting the game back to where it was before VU10, some more month to finish deserted parts off the game (taming etc.), update existing system that lack functionality (auction, soc options etc.) and add new content (quests etc.).
The general question is, can EU survive at all and for that it has to generate buzz and in order to generate buzz the only viable option left, is a good reputation and word of mouth.
MA media stunts work less and less every time, so a change towards the CryEngine 3, while it might be a nice thing to do, for owner of Direct X 11 cards or those that will most likely buy one, within the next year won't generate any buzz.
In my book it comes down to cost and for that we would have to know the specifics of the CryEngine2 deal to begin with.
If the costs are only marginal and the work needed to update to a Direct X 11 render path can be done within a reasonable timeframe ( 5-10% of MA manpower for 1 to 2 month top) i think it would still makes sense.
Going from dream back to the real world my answer has to be short and simple.
NEVER
