Interesting to here in the interview Larry did with Fanning, that they have a big collection of music that they would like to be made public, he even mentioned the fact that Return Of The Stingray Guitar has not been scrapped but actually rewritten and reworked, along with Glastonbury. So i could see them releasing within a shorter space of time then usual, possibly a full album as normal as how they would prefer then afterwards, during the tour maybe an ep. Problem being that, as he mention the Songs of Ascent project (which he insists is still alive) is artistically very different then the content they currently have been working on as it mainly consists of songs recorded during the NLOTH sessions. So it will be interesting to see whether they will ever bother releasing that as they are getting further away from the material that will half a decade old shortly, so i would consider the best case scenario in regards to that material is that it would be a U2.com release for subscribers for the new year in the not too distant future.
Well, as you mention, Larry said that at least two songs had been reworked (and i'd wager he was referring to more than just those two). If that's the case, and they're still working with danger mouse after 3 years, and songs of ascent still exists, then maybe all of that material has been re-worked with him, so that it's all a coherent group of songs.
Seems to me they originally played with the idea of releasing songs of ascent as a sister album to NLOTH, but when the latter didn't do as well as they hoped, they recruited danger mouse, and reworked the songs of ascent songs / out takes from NLOTH (like every breaking wave), and also created entirely new songs.
Now, according to Larry, they have a massive amount of music, and are interested in releasing all (or much of it) in the form of "multiple releases". Seems like a best case scenario to me - rather than shelving the songs of ascent, they're taking them, and reworking them along with new tunes so that they're happy enough to release them.
Whether they actually release multiple albums is still up in the air (i don't think they will), but i certainly hope the abundance of material means we at least get b-sides this time round, (although given that format is dying, i really only expect the 1 album).