The GM Minish Cap Engine is somewhat slow in progress due to few people working on it and because of how contributions go to it. Rather than doing many things decently, I tend to focus on doing a few things well. That and I also pursue difficult programming challenges which benefit the community more. If this is done, then even little progress on the engine benefits users more. It is also left open and public for the community to assist.
Anyway though, the Link's Awakening might not be that practical as evidenced because the engine takes time to do with limited assistance given to it. That and a community's patience for a remake is often limited; unless it is OoT2D, then patience for some is near infinite.
About your project though, if the engine's development is going to be private to where you can just see the code, why not make the project a team project instead? The project would then have its significant updates as a part of the news feed, there would be an item about it on the news on the forum index, you'd get your own board for this project specifically, and if you wanted your board could be private or public (your team could share the code in private if that would work better for you, or everyone could see it as well). The idea for team projects is something that Pyrazor worked out and something that I support.