They're outsourcing development of Wage Wars. What's more, the technology would be completely different, so a programmer who was working on WW would not have any experience with the AE codebase.
Another way to look at it is like this: They would need to pay someone to do this. I really don't think anyone will pay to use the engine, so they would need to consider it as a promotional tool if they wanted to release it for free. And I don't think it would be a popular enough thing to really get people talking about AO and AE again.
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Spending as long as I do here, it's easy to forget that Oddworld has actual fans.
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