Data East has a rich history, which is now owned mostly owned by developer G-Mode. They mobile phone developer is happily licensing the library of games out to publishers like Majesco, which released Data East Arcade Collection for Wii this past February.
How about Data East Arcade Collection 2? Data East, or at least the person who posts comments on the Data East Facebook page, said “we’re currently thinking about it.” Another fan asked if Magical Drop 2/3 would ever be re-released for Xbox Live Arcade. “Possibly,” replied the Data East rep.
While Magical Drop 3 with online play would be a neat addition, Xbox Live Arcade has fewer and fewer actual arcade games these days. That makes a port seem unlikely, to me, but anything can happen I suppose.