I used to like Telltale games quite a bit, but honestly I wish they'd develop their own IP. I'm still glad they made Tales of Monkey Island but the last thing I want is for them to resurrect more old LucasArts licences.
And especially not Grim Fandango! It really doesn't need a sequel.
Why? Telltale is the only AAA studio that knows how to make good adventure games. Walking Dead, their last game, won the most GOTY awards last year.
Doesn't mean I think Grim Fandango should have a sequel. If there had to be one, I'd want Tim Schafer to make it, definitely not Telltale.
EDIT: Also, good is subjective. I'm not a fan of their more recent output.
Also also, Walking Dead being good doesn't make it a good adventure game.