Morrobliviwind?

*Morroblivirim.

They're planning to re-create Morrowind and Oblivion in Skyrim's engine, so yes.

There aren't plans to put newer games into older ones. It defeats the purpose of "Renewal Project", and many things done in Skyrim or even Oblivion simply wouldn't work in Morrowind's Engine.

There might be no plans for putting TESV: Skyrim or TESIV:Oblivion in Morrowind's engine, but there are projects for Morrowind in developoment like:

Skyrim: Home of the Nords - http://project-tamriel.com/viewforum.php?f=20&sid=126984b2b1816b523dd486bbbe52bb08

Province: Cyrodiil - http://provincecyrodiil.project-tamriel.com/portal.php?sid=6c37e36eebff082764c2e697804d97ab

Tamriel Rebuilt (Morrowind Mainland) - http://tamriel-rebuilt.org/

Plus there is an OpenMW engine being built, which is an open source version of Morrowind engine - http://openmw.org/en/

As you can see the original Morrowind modding community as alive and well up to this day.

And also many things possible in Morrowind's engine or its open source version are impossible in Skyrim's. So there are pros and cons to both of them.

Not too say that Skywind or Skyblivion are bad in any way, I really appreciate what you guys do. 

While we are at it lets port Morrowind, Oblivion, and Skyrim into the Arena Engine. 

Enjoyment of someone on the internet is not a good reason to start big projects for anyone unless he/she enjoys it too and you both share the common goal. So if you want that to happen, find others willing to make it happen and just do it you know.

I wonder why people so obsessed with nostalgia about The Elder Scrolls series.
Why don't to expect something new in that universe?
I don't know... Dwemer Secunda Mining Tycoon or something? :)

Btw, you can find all Nirn (or all Tamriel) is mods for Europa Universalis : http://www.moddb.com/mods/the-elder-scrolls-total-war