A new mode was discovered in MK: Shaolin Monks called Survival Mode. This mode lets you fight in the arenas against multiple bosses at once (including a simultaneous fight against the Orochi Hellbeast and Inferno Scorpion!). Level one lets you start out against Baraka, some Nomads, and eventually some Masked Guards.

To access Survival Mode, you must be in the Foundry. Grab the infamous Axe weapon from the MKII background, go into the room with lava that is available in the beginning by breaking the wood door down, jump into the lava and back out, go to room to the right of the save statue, smash the barrel at the end of hall (using the O button ONLY), go up the ramp and to the left where there are two barrels and smash ONLY the barrel on the right, go to the area with the Nitara-type weapon, smash ONLY the barrel on the right, go to the area with the "smashers" and smash that barrel, go back to the Nitara weapon and smash the barrel on the left, and go back to the other area where there were two barrels and smash the one on the left. Be sure you use the O button only. Now, stay there and press and hold the O button down to smash the ground. If you do this correctly, you will see green sparks. Press R2 and you will enter Survival Mode.

It looks like there are a couple exclusive backgrounds to Survival Mode, as well.

Thanks to both and for the info!

UPDATE: We now have video that demonstrates how to access Survival Mode in MPEG format. Click the link below to download the video and see for yourself how it's done!

ANOTHER UPDATE: We now have videos for all nine levels of gameplay that in Survival Mode, also in MPEG format. Check out the links below to select a video and see it in action!