Well, Richard O'Brian has decided on a sequel, and unlike Shock Treatment which is not an actual sequel, this plot follows nine months after Rocky Horror.
It will be preformed on stage, and there are no plans to make a movie of it, as of yet.
The original actors will not be returning, accept maybe for Richard O'Brian, although we do not know whether or not he will be Riff Raff.
In a report, it was said that the premiere of the show will be sometime this year- the most recent date being March. And (here's some great news to all you people in the UK...including moi!) It will be shown in a theater in the uk. The name of the theater is not yet known.

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