It seems that a new build of Android has been discovered in the Chromium bug tracker. The build had been initially sitting in a restricted view mode, which left it open only for Google employees. That labeling has since been removed, and the folks over at Myce began doing a bit of digging.
To begin with, the version is shown as being KTU65. As this is still somewhat of an early discovery, the details are on the lighter side. We have yet to see anything suggesting what the Android version number would be, however based on the numbers -- it seems like it will remain labeled as Kit Kat.
That bit suggests we would be seeing something Android 4.4.x, as opposed to Android 5.0. How that is determined comes by way of the KTU65 build number. Google uses the first letter for the release family, which in this case has the K standing for Kit Kat. There wasn't anything offered in terms of the T, however beyond that it goes into a date code. The date code is where the hints of a new, or recent build come from.
Further details coming from Myce mention how the U65 portion breaks down to be March 6th, 2014. Or more specifically here, the U is for Q1 2014 with the 65 meaning the 65th day of the quarter. Basically, it seems Google has a relatively fresh version of Kit Kat in the works.
Of course, just because build KTU65 has been discovered doesn't mean it will be pushed to the users anytime soon. Or for that matter, at all. Bottom line, at this point we are simply going to have to keep an eye out for more details on KTU65.