It's a fan appreciation dealy.
Right now they're just discussing their own ideas that come from cannon storyline
Not sure whether i mentioned it above

but they want it to be a prequel where you control Curly.
Though yeah, it would be cool if they got Pixel to make a new one or coded one themselves, they're fans of the game who are stuggling through the game's strange form of basic at the moment. If they can learn enough without being forced to create a new engine, that's the route they want to take.
edit; holy spelling, batman!
they contacted the man responsible for translating the game, in hopes he can shed some light on the file formats and the language used.