Finally some first-hand info has come out, and I'm not as excited now...

Bret Lovell answers some peoples questions about the new Botcon at about the 1 hour 8 minute mark of the Stasis Lock Podcast.
#1 Pete Sinclair is a stock holder in the BC Productions Company, but not a majority shareholder
#2 Bret Lovell is the Manager of BC Productions
#3 Karl Hartman is involved in the process of planning and running the show
#4 Bret wants Botcon to be AFFORDABLE and to bring it back to the Pre-2001 days
#5 Night Shining is a Licensee to sell Botcon Product. They are a separate show.
#6 Bret is open to Licensing out the name to others for other products.
#7 This is a continuation of Botcon, not a start over.
#8 Night Shining was the first company to approach them to sell product, so that 's why they have Botcon merchandise for sale.
#9 BC Productions started within the last month, so everything is happening fast.
#10 Primal Sabbath is involved in making the Botcon Product Guide.
#11 The name of the main author of the Product Guide is currently being withheld.
#12 Bret's goal is avoid previous mistakes made by previous Botcon companies.
So it sounds like a group of fans (I still have no idea who Bret Lovell is, as I've never heard of him before), put together enough money to buy the rights to the BotCon trademark from FunPublications & register a new BotCon company, and plan to use the name for merchandising, not just conventions... which means we could see the BotCon brand be licensed out around the world on events and products.
The first licensed "BotCon" merchandise will be a guidebook of past BotCon products, to be sold at Pete's Robocon in a few months time. (as noted above, Pete is one of the shareholders of the new BotCon company, with his existing company "Night Shining" (which does the RoboCon event) being the one first using the name).

As a fan of BotCon, I'm not too excited about the name being a money-maker, being slapped onto all sorts of things for a fee... particularly if they aren't being sold at a BotCon event as BotCon merchandise.
It's still very early, so I'll wait a little longer to see, and hope that this is something that Hasbro get involved with, if it really is a "continuation of BotCon".