That one falls under a big fat "maybe," as the series creator, Hideo Yoshizawa, told Nintendo Power that critics ain't everything, y'all:
Nintendo Power: You've mentioned in previous interviews that you would love to work on a brand new Klonoa some day. Do you really have some ideas in mind for Klonoa 3?
Hideo Yoshizawa: I'm always thinking about the scenario and new gameplay ideas, but it all depends on the sales of the new Wii game, so I can't say anything derivative.
We'll have to wait another couple weeks to get NPD sales results on the remake. Somewhere, Matthew Perry is surely on edge.