My jaw dropped to the floor when I heard this news. Never in a million years would I expect Disney to bring back TMS after all this time!
Like many of you, I'm cautiously optimistic. The Mouse House hasn't had a great track record with Kermit and the gang, but Seth Rogen is really funny. If he's got a handle on how to avoid the mistakes of the past, this could be a lot of fun.
Also, regarding the fact that the Muppet series keep getting canceled, that's why I think it's wise to start off with a special like what they're doing. If it's not a hit, we've still at least got the special. If it is a hit, then it makes sense for Disney to order a lot more episodes.
Regarding the recent controversy over Vogel's Kermit (even though he's had the role for 8 years), I hope Disney finds some way to smooth things over. Maybe invite Steve back to play Rizzo or Bean Bunny at least. Vogel is excellent, and sometimes (such as Kermit's appearance on Sesame Street's 50th), he can really shine in the role. Let's hope the right combination of script and performance can be found.
Sidebar: It would also be great to see Kevin Clash back as Clifford or some other characters. But first and foremost, of course, make it about being funny first, rather than just "Hey, here are characters you haven't seen in a while."
Also, with Frank Oz showing more interest in the Muppets again with "Muppet Guys Talking" and being in "Jim Henson: Idea Man," it would be great if they would ask him back for at least this one time to play his characters again (with all due respect to the amazing Eric Jacobson). But I'm really not holding my breath here.
Anyway, looking forward to additional updates on this potentially exciting project!