There's early megatexture code in the released Doom 3 source code, but I've run it with some breakpoints set and it never gets hit. Evidence is that roundabout 2000-ish Carmack was evaluating two different technologies for what was then going to be his next engine; one was unique texturing and the other was unified lighting and shadow. The latter was the eventual chosen direction for Doom 3, the former, as we all know, made it to Rage (you can read about the genesis of what became megatexture here: http://www.team5150.com/~andrew/carmack/johnc_plan_2000.html#d20000307, although it's real ancestry goes all the way back to software Quake's surface cache). It's not beyond the bounds of possibility that a future rev of idTech 5 will feature both; it will look awesome but AMD driver shenanigans may rear their heads again.
Its highly unlikely that id tech 5 will have both. Id will most likely push other feathers like HDR, Perfect Motion Blur, depth of field, texture detail and texture upscaling. All of which are currently in the engine. Also possible experimental patch for perfect anti aliasing. John Carmack has said some thing along the lines of he does not want to implement technology that he will have to throw out later. While mega texture can have global illumination, id tech 5 is going to be a hybrid engine with id tech 6. Global illumination will not be compatible with sparse voxel octree (Infinite texture detail down to the texcel) in id tech 6. I think its clear id tech 5 i going to get lots of updates with current generation technologies for doom 4, but global illumination not being one of them.