They’re doing a director’s cut of the first season to compile it into 3 films (presumably one for each main novel story arc). No word if there will be new content (probably not, considering they’re using Gonzo’s old animation afaik).
There will be a new theme song though - I assume that has more to do with licensing than anything else. Gonzo and KyoAni used Pony Canyon, but XEBEC is using Lantis. And since XEBEC is doing this cut, they probably can’t use Mikuni Shimokawa’s music.
TBH I have a feeling they’re going to ultimately lose money when it comes to this film project by itself, but that it’s going to help boost Invisible Victory. But I don’t blame them for not wanting to pay the extra to use the old theme music, this is probably more cost effective. (not that I can in any way confirm that, it’s just the impression that i get)