Following Monte Cook's advice in his articles about OGL and their impact Mongoose should wait until the paying fan base demands a new edition. To release a new edition before that happens lessens the impact unless it is extremely innovative. Not sure if the percentile system of RQ is innovative as much as it is just different. The RQ fans on this forum who want a new edition are really asking for a RQ edition of the Conan RPG. I don't think those of us who are enjoying the current OGL Conan are demanding a 2nd edition.
Last I heard the Conan RPG is selling very good. If they did release a 2nd edition it would almost be similar (on a smaller scale) of D&D 3.5 coming out so soon after 3.0 even though 3.0 was selling so good.
That said, if Mongoose is planning a 2nd edition i hope they answer your question sooner rather then later.