There ARE plans to update SpectroMagic. But Spectro is staying. It's more loved in FL than the MSEP. And the MSEP is going to Hong Kong.
that's because it is much better than MSEP. The parade does need an update though at least one new unit maybe even a pixar unit but definitely a unit for beauty and the beast. It would be so cool to see cogsworth and luminier. it would be fun to see monster's inc lit up and toy story characters and how about mater and mcqueen lit up. just my opinion. also bring back the light effect at the beginning. when the parade debuted they had a disco ball effect on the buildings on mainstreet and on the other buildings along the route. it was cool and lots of fun.
Maybe the MK will get TDL's Dreamlights as rumors are flying about TDL getting yet a brand new Electrical parade for their 25th in 2008. (Fingers crossed). SpectroMagic has aged quickly and is now outdated, as pretty as it is.