A post over on the official Playstation blog has a video interview with developer Alex Evans of Media Molecule where he discusses the upcoming Little Big Planet 2.
In the interview he discusses the game's story and explains how you go on a journey to save the world with The Alliance, run by a character named Da Vinci. He also talks about the sequel having a more competitive component to it with Versus Modes to be included and a racing mode that will be included as well.
Evans also discusses the new music generator that will be included in the upcoming title that will allow you to have objects and machines respond to the in-game music or tracks that the player can put together.
You can check out all the details discussed in the video below.