Nope, haven't heard a word about anything official. Where did you hear it? At this point this is wishful thinking.
However there are some fans unofficially redoing the models in high poly and with 16 bit textures, redoing the explosion animations, removing engine limits and other things over at JKhub.net (check out "JK Enhanced" Project there!). The best thing about JKE is that it aims to be compatible with the existing game (meaning you can join a server even if they don't have the enhanced stuff running).
The previous beta was fully compatible, but the latest beta requires everyone to have it for it to work. Currently it's only for JK, but is planned to be adapted to MotS eventually.