I saw something at The Longest Journey website that may be of interest (I know it was to me).
One of the faq was about a sequel. Currently there are no official plans, however they are taking votes from us gamers! So if you're a TLJ fan, go to the site to read their response and vote (it's a link).

http://www.longestjourney.com/faq/en...#_Toc501020022