There is a re-make underway and has been for about two years now [1]. They are making fair progress and I like the graphics. I think their main mistake may be not going for a brower-based version, then again, if the Net Storm legacy lives on, who am I to complain? Also, not sure about the licensing, there were indications of them being closed source a few years ago but I have been unable to find anything explicit, given what happened to the original Net Storm I hope the same mistake will not be repeated.

[1]: http://risingstormhq.com/