Barring what is happening with the reshoots, I'd be more inclined to believe
Spoiler
the armor stuff
is just special stuff meant to awesomize a toy line, and nothing more. It all sounds far too extreme to be part of the movie, at least at this stage of the game.
That being said,
Spoiler
it's nice, but surprising to see MG will be in the movie. Although I have a feeling it will be at the very end. Probably used as a post credits scene showing him being built, after this movie officially establishes Godzilla as a threat to mankind. Which they already alluded to at the end of KOTM.