Shadows: Heretic Kingdoms? Never heard about that one.
Will however keeping my eye on this Awakening, maybe it turns out good.
About Kalypso, they're hit and miss IMO. An example of great game - they published Ceville.
Kalyps also has a rather unsavory track record with both devs and customers. If they dont's screw one or another, they screw both. Disciples 3 is such an example. Urban Empire, Valhalla Hills are others.
Yes, they did some good, but like you said: hit and miss.
Shadows: Heretic Kingdoms was meant to be the sequel to Kult: Heretic Kingdoms. It had a troubled development and even a more troubled history. The devs signed a publishing deal with bitComposer (now defunct, thank God for the little favors) at a time when EVERYONE knew that the publisher had serious money problems.
The game was pushed out before being actually completed and with the promise that the missing part will be added to a later date. They've called that split Book 1 and Book 2. Needless to say, Book 2 never came out, due to the publisher going bankrupt and Games Farm almost losing the rights over the Heretic Kingdoms IP in the process.
After a few years of legal entanglements, the IP was awarded back to Games Farm by a german legal court. Since then the information got scarce, with the devs posting from time to time reassurements that they will honor the old promises (which it seems that it won't happen, especially knowing Kalypso).
You can read the drama here:
http://steamcommunity.com/app/256030/discussions/0/490123938440825325/
And here:
http://steamcommunity.com/app/256030/discussions/0/527273452872556534/
So, yeah. While a part me wants to be excited, the other is skeptical.