What you are probably asking is whether A Sharp can rebuild the game with all the new features. The answer is no. If we could rebuild the game, we would have had a downloadable version for sale in 2006. Also, there is no way to stuff 28 new scenes into the original game (at least not without breaking every saved game). As well as more mundane technical challenges having to do with compiler bugs.
OK, so that would be too much work for it to pay off, but how about a proper sequel? Either one based on Dragon Pass, or elsewhere in Glorantha. A lot of different options for that. I'd love to play a chaos cult simulator for example - one option I miss in the KoDP is to properly go bad.
The original didn't get sequels since it didn't get the recognition it deserved, but things are different these days. We have GOG, we have Kickstarter. Retro is in and it is easier to find the audience for niche genres. I bet if you did a Kickstarter project it would get traction. Pick a number that would make it worth your while. You have the track record, you have the fans to spread the word, you have the demos (current games for PC and iOS). Promise modding tools as a stretch goal and many people would start drooling even more. In Kickstarter you would easily get people to pay you money
for the privilege of being free labor during the development process, both for testing and for higher tiers making events with you.
And if the Kickstarter project would not succeed then it would still be advertising for KoDP, both the version here in GOG and the new iOS version, right?