Actually, they can do more with TLoS. They said so themselves. Because the Universe kicked off with a 'Trilogy', means nothing. Evn with the 'happy ending', which has been said countless times. I'm still not even clear on what happened in the end.
I'm not saying they're going to return to TLoS. They more than likely aren't. Actually, I'm positive they aren't.
I'm not totally satisfied with Skylanders. It looks okay, just not my ideal type of game. I'm looking forward to what they do with Spyro afterwards. And I'm not complaining about Skylanders, even though I'm not interested.
You can say the exact same thing about both series of Spyro, even with Skylanders.