In July, Godzilla 2014 director Gareth Edwards was interviewed by Shock Till You Drop and asked about Godzilla's trademark atomic breath, Edwards replied:
"It was important to me to make it as believable as possible and with all of those elements you've mentioned, they're in the film but I tried to put them in the film where they're not so fantastical that you don't believe it. Hopefully, the only big buy the audience has to make - and I believe there can only be one buy - is that giant creatures can exist. Beyond that, we try to make it as realistic as possible. Throughout the franchise, there's consistently been these elements related to Godzilla and they're in this film, but it was about making it feel natural in our film. I can't go into much more details. There is a nuclear element in the movie."
This was of great concern to me and fans as it suggested Godzilla wouldn't have his atomic breath weapon, but recently this question seems to be answered with the release of a Godzilla 2014 action figure from Urban-collector for pre-order. The 10 inch toy is described as thus:
Godzilla 2014 Movie Deluxe Attack & Roar Action Figure Asst is an Urban Collector pre-order. With collector-level detailing, this large scale figure brings the new Godzilla to life as he blasts his powerful atomic breath and lets out his iconic roar! Figure measures approximately 10' tall, and features authentic sounds and 'atomic breath' action. Open box packaging.
This seems to assure that G will have bad breath in the new movie. On the other hand, sometimes toys do things that their movie characters did not. But I'm gonna take this a strong yes on atomic breath. Godzilla fans rejoice!