According to Wikipedia, the second film will be called WOWP: "Wizards of Waverly Place - The Movie 2: The Great Adventure" , and the main focus will be the long-awaited competition wizards. Check out the synopsis:
The Wizards came competition, and Justin is worried because last time they competed (in the first film in the series) he lost to Alex. To be without any powers, Alex reads many books on magic and discovers that there is no rule about the competitors in the magic touch at the same time, so they decide to make the plan Alex. Everyone saw sorcerers complete, and are in the history of witches.
Remembering that this is just a rumor, nothing has been confirmed, and Wikipedia is not very reliable because anyone can edit it!
