No, it has not been released locally.
This was released by Dimension Films, so one of two things will happen if it gets a local release:
1. It will be released by VIVA in a fullscreen, low quality DVD5 version at Php 375.
2. It will be released by C-Interactive in a version that mirrors the R1 release, but with the C-Interactive logo on the back cover.
Hope that it's the latter. The second disc that contains the B&W version of the film is an interesting thing to have in your collection. Seriously, the film has a different tone when viewed in black and white.