As far as the demo goes... if I'm thinking of the same one (with the "To all who come to this happy place" quote at the end), it was actually someone who made their own rendition of what they thought it should be. As far as I know, there was never any official consideration of that song. That one's been discussed on magicmusic.net a number of times.
As for this announcement... I'm looking forward to it, and I'll wait and hear it myself before I pass judgement.