Its been a long wait to hear any news regarding the status of 'The Dark Crystal' sequel, 'The Power of the Dark Crystal.' In an interview with Brian Froud, the artist behind the concept art for both The Dark Crystal and Labyrinth, and his wife Wendy state that they have been designing for the film and talking with 'the director', who as far as we know is still Genndy Tartakovsky.
Brian and Wendy Froud interview