A regular 2d community project has already failed (a really great one, I might add), I don't know how something like Oot2d or MM2d is supposed to actually be finished when our other community project failed.
How so? With the "King of Thieves" game, we had to come up with everything, including any original game-mechanics (tight-rope, magic carpet, pick-pocketing), from scratch. In fact, to be honest, I think our inability to solidify the gameplay was what killed it. Pick-pocketing, etc., became a back and forth that never ended, because there was always "one more idea" that could make it better. And to an extent, there wasn't really anyone to "cut the crap" and make the final decision.
MM2d or OoT2d would actually be easier, because the story from beginning to end, the basic style, and all the gameplay mechanics are already pretty much laid out for us. MM2d or OoT2D are only hard because, as has been mentioned, people are unwilling to compromise certain 3d features. They try to make things exactly as they were in the original, when it's all but impossible to do. They want the Forest Temple to have the twisty hallway, they want Gohma to drop down from the ceiling when you look up at her. If they would learn to compromise a little, they wouldn't actually be any harder than an ordinary fan-game.
I miss the old Community Project, though, to be honest. Maybe if we just started over, cleared out all the old threads, and just distilled the key points of the original idea (theive's gang, Ganondorf in disguise, pick-pocketing and magic carpet, rich and poor side of town, rival thief, a few other things), it might be feasable again. The problem was the idea got too bloated. Ideas were flying every which way until it became cluttered, with noone to say "no more", but the original concept is still rock-solid, I think.