Strijkbout: Why don't they make Anachronox 2 with the same tech (Quake 2 engine) as they used for the original?
The problem is that most game publishers aren't really interested in low-budget titles... a "low risk, low reward" situation is not what they're set up to handle. Even if development costs are low, the labor involved in legal issues, promotion, and other things related to releasing a game these days simply costs much more than it used to, so there's really no way for a publisher to do it cheaply.
So then the alternative is to make it as an indie title. But Tom Hall doesn't own the rights to Anachronox, so he'd have to get them back from whoever has them, which can be tricky. If it's seen as a low-value brand he might be able to buy it back, but sometimes the rights holder simply doesn't want to sell, and there's nothing to be done.
I think the ideal situation would be if Tom Hall can get the rights to make the game as an indie title, and he could maybe even use Kickstarter funding to get support from the fans. As an indie it would be much easier to make the game for a low cost meaning it would not need as many sales as a big budget title to be profitable. But again this all hinges on who owns the rights.
By the way, I'm basing this largely on some interesting interviews I read with the head of Larian studios about how they made the shift from working with publishers to self-publishing. His comments about the relationship with publishers were very interesting, and different from the usual "publishers are bad" stance... rather it was more that publishers are set up to make big-budget titles that must sell really well, and they don't really work for smaller-budget titles with a more niche appeal.
Interview here:
http://www.rockpapershotgun.com/2012/01/26/interview-dragon-commander-commander/