Disney has not announced any plans for DVC at the Contemporary. There are many rumors concerning a possible DVC resort being built at Contemporary, but nothing more than rumors. Here's a link to one of many threads on the topic that is currently active:
And if you want to read about the rumors, high speculation, and the pining of members for a CR DVC, there is a thread on this same page that is entitled "Thought I share this here -- info about possible CRV"
I personally don't like the artwork I saw yesterday at Screamscape - I'd prefer just the same type of wing they had before (DVC or not). But from what I've read, Disney plans to have DVC at all the deluxes and maybe the mods too on property. There isn't any doubt in my mind that it's going to be DVC from all the indications over the past year or so.
Anything can happen. Even when it looked definitely that free dining was coming out, I kept saying IF (even though I was pretty sure it was a "when"). So I'll say "if" DVC is building there, though I really think they should just announce it and get it over with! They did get rid of the other building very fast, I can't imagine they'll let it sit a very long time without making money from it (it is prime real estate!)
I hope that isn't what it looks like, but it certainly looks like it'd be a lot of units for them to fill. (and who knows, maybe it'd look a lot better in person!)