Yoshi said in an early interview that he would try to make hoods raisable/lowerable when it was first asked.. and later on when the question surfaced again he said that it was too technically difficult to make hoods able to be raised and lowered. When players pointed out the WHM concept art with hoods up and down he said that it was just to show the modellers how it looked, and not representative of actual gameplay.
So no, I wouldn't expect this to happen. Hoods will be static.
