Oh my god, I actually know these people... I mean um, no I never seen these horrible people who butchered my beloved game...
But on topic, I can't possibly imagine a sequel to this game. Out of all the FF's it was the one we could honestly say there was nothing to say. I could see a short ten minute follow up that took place a while later that tells what everyone was doing, But I can't imagine an epic or even somewhat interesting plot to make a sequel with that wouldn't out right ruin the original and not sound like fanfiction.
A prequel might work but as stated above, it would ruin the fallback plan of an original fan base if it was only about the War of the Magi. Even if it was about what most of the characters were doing before the game started, we already know most of it and they might as well just make a movie from the actual game.