It's rumoured that people have wanted to buy the rights to release the flick for years but are worried that 1) The MPAA will enforce a multitude of cuts, and 2) That the Christian right will be up in arms if it's ever released.
However, a hell of a lot of people in the States have imported the DVD. It's quite the cult classic over there. And the truth is that subtitled films do pretty well in the States when they're released. But the Studio's are so out of touch with what audiences want anyway and there's a fear that whoever makes the decision to release the original version, subtitles and all will be sacked if the film underperforms.
I'd be interested to see the talent they get behind this, and I'll keep an open mind. The original film isn't perfect, it still has its flaws. They might fix those flaws or (As with the 'Ring' remake) have exactly the same ones.