No, Hudson was responsible for Bonk 3 CD. TTI was given the game for release for free, or atleast, that's what TTI's secretary told me BITD. For some reason, it was never released in Japan.
As for Legendary Axe 3, I know I've talked about doing a 3rd game(of sorts), that's somewhat of a mix between the two other game in art & level style, & it'd be on cd, though I don't know if I've ever talked about it publicly. Even then, we'd rename it if there ever did start working on it, of which we haven't.