In a word, no. Squeenix is working on an ambitious ps3 FF project and probably can’t afford to spare good game-makers for a pretty rehash. Besides, seeing Squeenix’s track record with the FFVII "franchise," they won’t put in that much effort if a re-whatever is done. They know that FFVII has enough rabid fanboys that they can slap the FFVII label on just about anything and it’ll sell like mad, regardless of quality–look at Advent Children and from what I hear, Dirge of Cerberus.
If you have a hard time finding it, I’ll be so nice to include a link.