Personally, even if Palisades does get the rights, I doubt they'd get on it right away. Probably after the TMS line has been made. They've got quite a bit on their plates, with TMS, Zim, and Oddparents. It will be worth the wait, but I don't think it could happen. Hopefully F4A will either pass the license to Palisades or at the very least fix their financial troubles and put these out to market (at least 2 series worth... I want my Guy Smiley, Telly Monster and 2 Head figures).
Oh well, at least we finally got Fraggles on DVD.... that's something to look forward to.