They talked about it earlier last month. This is from Mike Laidlaw, lead project head for Dragon Age. In short, he calls overwhelming majority of the final shots for the game (EA does have some of the final-final say,) and is David Gaider's boss:
http://www.ausgamers...ands-on-preview
"So we aren't actually doing Blood Magic in Inquisition as a specialisation, in part because I made myself a promise -- if we went back to Blood Magic we would do it up real good,” he said. “I felt like we were undercutting its significance, because in the Dragon Age world it is the ultimate temptation. I think think that to do it right it almost needs to be the Malkavian option from Vampire the Masquerade: Bloodlines. And it's something we need to explore, but in a game where we were also exploring open world and five platforms and multiplayer it seemed like perhaps we had enough irons in the fire.
So, judging from this, Blood Magic is gone from this game, but not necessarily for good in the series. I don't think you'll see blood magic as a specialization (no, not even as a DLC) this time around, but keep an eye out for future games. It sounds like they do want to bring it back later.
Plus, the idea of playing a Malkavian (i.e utterly insane) type character is an intriguing one. I wonder what the devs would consider a PC Blood Mage done "right."