Well, I doubt NTT is planning to "revisit" VQF, and much less Yamaha.
That leaves us with Ahead, that is the third company that owns the VQF sources.
Hey, Menno, do you know if Ahead plans to revamp VQF?

Anyway, Ahead already "improved" VQF by allowing bitrates up to 192kbps (the former limit was 96kbps). But I hadly consider that revisiting.
IMO, it's not wise to revisit VQF. The format is mostly forgotten now. The time that would be wasted trying to improve it would be better spent tuning a modern encoder, like AAC or Vorbis. Besides, in order to make it competitive, nearly everything would need to be redeveloped, then it wouldn't even make sense calling it VQF anymore.