This is awesome! Great to see the spirit of Blomkamp's film is being kept alive.
The passing of the torch idea could have some pitfalls with it. I mean remember how the last Indiana Jones installment played out? That was basically about passing the torch. The new Star Wars seems to be about passing the torch. We'll see how that pans out.
I think that going after an idea vaguely similar to the original Mark Verheiden Aliens series from Dark Horse is not a bad idea but some serious changes have to be made. Firstly, the whole idea of the Elephant-nosed Alien is passé because of Prometheus, and everything from Aliens Earth-War needs to be discounted as its simply not that good. But I think the idea of having an infestation on earth playing out IN THE BACKGROUND as opposed to in the foreground would be an interesting thing to do. You don't have to show the Aliens literally invading every city one by one. Sometimes, the less you say, the louder the message is. It is better to tell a very personal story of Hicks, Ripley's and Newt's struggles in the context of a large scale earth infestation rather than focus on the infestation itself. You have to admit, the whole objective of the Aliens films is to avoid the infestation and destruction of earth. So the natural conclusion of the series is to let it happen and to deal with the repercussions. To not do that, would be to sell short.
...and for pity's sake, please no time travel.