I think possibility of happening is rather slim. Allthough it might be fun to see original in new shape I think it would be better to use those resources to new projects.
Not trying to be jerk or anything but I think Zelda II is just Zelda II only nintendo made Zelda game without "The Legend of" part. =)
Edit: On second thought I simply love A Link to the Past so much and have played it trough many times over from many years back so somewhere in depths of my strange and twisted mind I would never want to see remake of it. Bit like I would not like to see someone remodel my own face with heavy blunt object.