Vini256 on 05 January 2018
Isn't Grezzo busy working on an HD project (Very likely Zelda-related)? I don't think they're big enough to be doing two projects at once. If this remake/reimagining exists at all it's probably from the 2D Zelda team from Nintendo itself (Which would be a shame since I'd rather have a 2D Zelda for the Switch instead).
