We are reviewing existing racials for Cataclysm, but it is our current opinion that after the changes we already made to racials that there isn't much needing to be changed at the moment. The only possible changes I'm aware of currently may be related to professions -- so, purely for example, maybe Dwarves might get a bonus for the new secondary profession Archaeology.

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Q u o t e:
P.S Wryxian, you sig is a reference to "Hook in mouth" by megadeth? :P

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Nope, it's a reference to our very own Level 80 Elite Tauren Chieftain's song "I am Murloc!"

I am more than a fish,
I am more than a man!
Death will rise from the tide!
I am Murloc!

Though obviously a Crocolisk is even more than a Murloc! ;-)