I'm amazed it's taken so long for this to be posted here.
Yep, they're replacing the old TAR with a covered new TAR. The golf ball should be either up now, or going up early this week, depending on the winds. The new TAR will still look pretty much like the old one, and under the golf ball it will still spin around.
I believe there may still be some months before the new TAR is operational even after the golf ball is installed.