I honestly can't feel good about these kinds of things when they potentially endanger the work that the Mane6 team has been doing in building an original IP for their game. Heck, from what I gather, the gameplay itself is staying much the same, but now on a better engine with new characters and settings.
At best, the 'remakes' seem to simply be modifying materials that were not meant to be leaked for the sake of ponies. At worst I worry that they pose a legal liability to the original development team seeing as how there's no way to prove that Mane6 is not at all affiliated with the mod projects beyond the fact that their leaked content is being used as the basis.
I was pretty bummed about the fact that a lot of the great materials for this game (particularly the music) would not be featured in a finished project, but using the art, music, voices, animation, etc. to 'rebuild' the game post-C&D, sans any kind of approval or recognition that it won't be a big problem for others, seems somewhat dirty to me. If you're managing to learn about FM2K in the process, understand what made Fighting is Magic fun as a fighting game based on the show, can manage to avoid legal complications, and are still dead set on making a fighting game that features the characters of MLP, why not actually build a new game? The time investment for developing your own features rather than repurposing those available would be great, but in the end it would also produce something both independent and incapable of bringing harm to the original development team of Fighting is Magic.
/end long rant