From what I've heard, there are talks of it possibly going Broadway, but that'll take some time even if it's green-lit...considering how long it took Aladdin to reach that point and how the Hunchback of Notre Dame is still waiting for its English premiere after a successful German run. But yeah, it definitely has potential, especially if some of the shorter songs are made longer and some of the lyrics are tweaked a bit.

As for the rejected songs, it really depends on how they expand the plot on stage to see if these old versions can be made to work in a stage adaptation. The songs were cut for a reason as the characters were finetuned, and having an even more direct confrontation between the sisters (which "Life's Too Short" and its reprise represented) could be difficult to work into the story without some retooling at least lyrics-wise (well, the reprise would be easier as there's definitely a very good spot for it to appear in the narrative with only slight changes but the main version would be trickier as it was already supplanted by the reprise of "For the First Time in Forever").

But anything's possible as Disney can be quite unpredictable at times when it comes to promoting or dissing this or that property of theirs. If only one could make sense of their bizarre executive and marketing decisions...