To be honest, no one but HTC knows. When the original images leaked under the passion name, this forum was made. That phone turned out to be the Nexus One.
I guess it has hung around, because people are hoping for a CDMA version of these snapdragon based devices. I personally believe the Passion isn't anything more than an internal code name for the nexus one.
Then again, up until this week everyone 'knew' desire was the code name for the Droid Eris, so there is always hope