I still 100% believe that XSEED intends to try to work on Zero/Ao, at least if this project doesn't eat their lunch first.
I really hope you're right. Would love to see it happen. I love the series and want more.
I would imagine that if they are intending on translating it, that the switch might be an option now ontop of a steam version? That would be amazing.
Barring an official release though, this fan translation sounds awesome and I love this team for doing it!