The sequel dream is not dead! Check out the creator's twitter at https://twitter.com/xdanond . He's recently posted art, including an updated version of Ginny, for a "new top secret game."
To hear the music, click the download button (next to the flag button) and it'll take you to an offline version with the music enabled. You'll need to use the text save option to bring your save from this version to the offline one. If a Launch Game button doesn't come up on the offline version, right click and click Play to go to the menu screen. Be warned that you can't earn badges on a game loaded via text load to prevent cheating, so earn the badges before you move over to the offline version.
Protip: If you need to grind exp for a low-level character quickly, sometimes the fastest way is for them to repeatedly hit your highest level character (usually Mardek). Level 10 Meraeador hits level 39 Mardek = 600 exp. Use the yellow fairy's haste to make it go faster. Very helpful for when you need to grind a character you don't use for their tournament.
Having just played EBF3, the combat is much slower, to the point of annoyance. The attacks are much slower and so is the screen darkening after winning a battle. It's rather annoying.