I spent the whole of 2010 focused upon WB and I'd like to get back actively supporting LL in 2011.
Dan and I have always been good publishing pals and we check in with each other a few times a year as well. We spoke by phone again this morning.
While Dan and I would like to work together on a project (and we may just do that in 2012), we are not at a place where we can do it right now. And like Dan pointed out in this thread, we do not want to splinter the LL brand into different versions (that's why LL has an OEC and AEC for the same core rules).
However, there is nothing stopping BHP from doing something like austrodavicus's suggests that is completely compatible with LL, even if not under the LL brand name. And that would be perfectly natural for BHP since that is how we have always supported LL anyway with our Delving Deeper series and our Classic Labyrinth Adventures.