We loved the original LocoRoco and the sequel looks like it'll be more of the same. Fine by us
Sony is yet to offer even a rough release date for the title, but considering it'll probably use the same assets and physics, we can't see it taking too long to arrive.
With Sony's new emphasis on download content, maybe it'll release on PSN this time around (like the not-so-great LocoRoco Cocoreccho on PS3).