Both Dr. May and RT are featured on the new album (see here) and it sounds like Dr. May contributed some vocals to Way Down. There's been no definite confirmation, but the rumor is that Dr. May also co-wrote this song.
I like the song a lot. I wouldn't exactly consider myself a Taylor Hawkins fan, but I always enjoyed the Foo Fighters and if the rest of the album sounds like this song, I might consider downloading some of it.
Red Light Fever is set for release in the U.S. on April 20, 2010.