Haven't seen the Wizard of Oz since I was a kid, so I don't have a solid opinion on the idea. That being said, this was a movie I've been following for a while when I heard that Sam Rami was directing and Zach Braff (Scrubs, Garden State) was getting a role in the film. Not much of the plot seems revealed, but it has enough to get you interested. And it's better than just releasing a poster then months later getting an expansion of the same poster. :/
I've seen/heard about this before. Can't say that it's really going to be something that i'll go head over heels to see, because i've seen some of the remixes made in the past. I know this one centers around Oz himself though, but I just don't know at this point if I could get into it. I might go and see it, depending on if anything better comes out around the same time.