It's important to remember that the AT300 design can have 20-26m carriage lengths. Pendolinos are 23.9m in their intermediate carriages. However, I somehow doubt an entirely new design of AT300 tilting derivative is going to be developed for a grand total of 12 5-car sets.
Why not? The A-train is a modular design, so it can be adapted to a variety of needs without too much grief, including, as you point out, different bodyshell lengths.
The first Hitachi tilt train order for Taiwan was for a grand total of six eight-car trains. The current order is for two more sets, so small orders don't appear to be an issue for Hitachi and they presumably made/are making a profit on both these orders. If the Class 800 bodyshell can be adapted to fit the UK tilt envelope without too much work then Hitachi may well be in with a shout for the 12 trains.
Having delved a bit deeper into the subject Hitachi has so far built more than 530 3ft 6in gauge tilt trains for Japan and Australia, often in small batches, including the Series 885 A-train which has a rather familiar look to its front end, though the bodyshells are much wider than a Class 800 thanks to the Japanese loading gauge despite the narrower track. Couple of pictures and a video of one in action here:
http://trainoftheweek.blogspot.co.uk/2011/07/jr-kyushu-series-885.html
Hitachi page about its tilt system and a link to list of orders for tilt stock:
http://www.hitachi-rail.com/products/rolling_stock/tilting/
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And GNWR (Arriva/DB) seem to think that Alstom will deliver another 4 six-carriage Pendolinos for their WCML open-access service. All 24 carriages would need to be compliant with the newest regulations, so why would Alstom not offer the same to other interested operators? If First have gone truly mad and ordered more LHCS then nothing would be off the table for any of their other plans.
But still no sign of a firm order for any Pendolinos although it is now almost eight months since ORR approved the GNWR Blackpool plan and these trains are also supposed to be operational in 2018. Don't forget this image that emerged from the Alliance stable in the past..
http://www.alliancerail.co.uk/wp-content/uploads/2010/08/GNER-IEP.jpg
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