So I PMed Black Chicken Studios to ask if they'll be starting a second KS. Here are their responses (they're good people, and very quick to respond):
BCS: Round 2 [of Kickstarter] looks, well, not likely, but it's almost criminal that a project like this shouldn't fund, so...;)
Me: What are your plans once this campaign is over? Will you start another KS?
BCS: Well, unfortunately economics probably will prevent us from doing anything with the property. We'd love to make an Ars Magica game, but we don't have all the resources (or else we wouldn't have come to KS.)
We're working on our own games at the moment, so if the campaign isn't a success, that is probably the next time you'll hear from us. :)
Me: By the way if you don't mind me asking, why is a second Kickstarter not likely?
BCS: Sure- it's purely a matter of resources. If there are not enough patrons to fund Ars Magica in one round, will there be enough in a second? It's possible, and it's also possible not.
We could trod that path for quite some time; instead, it's probably more productive for us as a company to work on our in-progress projects. :)