Holy crap! The article on Wookieepedia has some amazing info I’ve never heard before – BIG news for Willow Watch!
In April 2005, during the Star Wars “Celebration III” fan convention, George Lucas hinted in an interview that given his company (Lucasfilm) was moving into television production again, there could be a Willow television series. Davis has also expressed interest in a sequel film, and has an idea for a story.
http://starwars.wikia.com/wiki/Willow