looks like it's coming back as unpainted miniatures -
http://privateerpress.com/community/privateer-insider/earth-shaking-announcementThe main thing that stopped me buying into it the first time was the blind bag collectable nonsense, so hopefully they won't go down that route again.
They are making them bigger than the original versions, so that likely sucks for anyone with the original game - scale creep even in giant monster land
For the revitalized Monsterpocalypse, we went back to the classic Factions and characters and updated their designs before producing all-new sculpts. By producing the miniatures as hobby models that you get to assemble, paint, and customize, we’re able to manufacture them in our own factory, which allows us to add a ton more detail to the figures that we weren’t able to create when the figures were in pre-painted plastic. They’re also quite a bit bigger and chunkier than the originals, which is going to make them even more fun to paint.