Going by a post on SlySoft's support forum, it looks like they are already working an alpha version of AnyDVD HD, according to this WesleyTech report, which claims to have reached a stage where it can rip and decrypt every HD DVD disc tested so far. Like how AnyDVD can remove control locks on DVDs, they aim to develop the tool to remove annoying trailers, the lengthy "HD DVD is great" logo and the FBI warning, most of which cannot be skipped generally.
According to the SlySoft Team member that made the post, while Blu-ray has the advantage of capacity, they prefer working on a HD DVD version first due to no region coding, less DRM and the low-cost Xbox360 HD DVD drive that it works with, unlike Blu-ray. So for now, AnyDVD HD will only work with HD DVD, although Blu-ray support may be added later on.
So far, it is not clear how AnyDVD HD currently gets hold of the keys, particularly with it being closed source commercial software. However, it aims to be user friendly without the user having to manually supply the keys, let alone fetch them out of a memory dump. Even if they decide on adding Blu-ray support later, they aim to get at least the HD DVD version complete first. As this product is only in very early stages yet, they will unlikely make any official announcements until the AnyDVD HD is available.
