Wow...this is incredible news.
I thought years ago that Animorphs (as a new merchandise type thing) was dead.
I had long hoped for a revival of the series, but after reading through this thread and seeing other people's opinions, I'm not so sure it will be received well.
I know I for one would not want ANYTHING to change about the original series. It literally altered my life from age 9 to 14 or so.
I wouldn't mind a continuation of the series, explaning that the One is really just a pawn of Crayak and that the Ellimist also has a few tricks up his sleeve to help the Animorphs out. It would have to include new main characters of course, since Ax and Rachel would be gone, Cassie would be on Earth still, etc.
However, to find out that the Animorphs are still needed in battles across other planets, helping to save entire species and races, would be pretty neat. They would battle it out and receive some extra powers in order to compete with Crayak's drones.
The series at that point would have to conclude with a final battle or a few final battles that would effectively end the war between Crayak and Ellimist, with one side winning their "Game" and the other taking his own life. Then the Animorphs can have a finite end.
That would be cool in my opinion.