Don't quote me on this but i dont think they are making a remake of ff7. i know however that they are making Final Fantasy VII: Advent Children. I've seen a few trailers and can't wait for it to come out. I've heard it'll be for the ps2, but it won't be a game, a movie of some sort. either way it should be cool.

here's a link

http://www.ffshrine.org/ffac/ffac.php