Tokyopop just posted an article about their light novels. Definitely go check it out! But if you’re in a hurry, here are some highlights:
Basically they’re saying don’t expect too much from them. Again, Twelve Kingdoms is kaput because of Kodansha. They appear to be insinuating that if FMP 4 does well enough, we’ll probably see more of at least that series. Gosick seems to be a little bit more on the radar because of the anime, but they don’t seem to hopeful for more novels because of the way the retail industry works (though they are selling the first 2 novels through their new Print on Demand store now!). Kino no Tabi is still tied up with license rights, so no more on that front still.
Also, it seems they’re working on digital rights for their published novels, so hopefully that works out well for them and we’ll see a lot more of their back catalog published legally online! 😀