Is Phase5 really back in the game or is this vapor?
The guy operating under the "Phase 5" label these days used to work in customer support for P5 and bplan (and, apparently, somehow got his hands on technical specs and layouts during the P5 bankruptcy) - he was neither management nor was he a developer. Describing that as "P5 back in the game" might be giving him too much credit.
Plus, there's a ton of unanswered questions regarding the whole thing. Don't get your hopes up yet.