Personally, I think the part about the remakes is great news because, personally, I think Square has lost their touch and no longer makes good Final Fantasy games, but remaking the past games that were good is a pretty swell idea in my opinion. The sequels part, however, concerns me. While I've got great ideas for expansions for a few of the Final Fantasy games (particularly FF8), I don't want Square handling it because of what I said about them losing their touch in making good new games.
This is why I still say that it's time for Square to hand over the Final Fantasy franchise to someone more competent; someone with good writers who write killer plots. Hell, give it to Bioware. They gave us KOTOR 1, so anything from them is bound to be good.