I wouldn’t hold your breath, unfortunately. With DVD itself beginning to be phased out with Blu-Ray and HD, and the fact that Legion isn’t popular enough to turn any profit, there seems the studio is completely unmotivated about going back to do any re-cutting of a film which lost money.
As I understand it, Blatty’s original cut cannot be found.
The only way we’d see it again is if it were re-cut and included on a definitive box set which also included the original Exorcist to ensure sales (or something similar…).
A drive to launch a definitive release of The Exorcist with maximum features is getting underway from here at CaptainHowdy.com this month.