I'd personally love to have it as a seperate game, but all it really has is how the BBS Trio is saved, and the battle between the Lights and Darknesses. Those things are going to happen in KH3 anyway, so i think if Nomura can't incorporate into a game, he'll probably just cancel the project and just reuse the cutscenes in KH3.

I thought it was scrapped.  Anyway I know he said there was a story for it, but I'm not sure how that would be a game.

Basically it IS scrapped until Nomura changes his mind or needs another diversion if Versus gets delayed more and it buys him time.

BBSv2 was already scrapped. As stated already he said there was a story but no plans to make the game. I think it would be cool to have cutscenes for it though, actually anything that would tell the story behind BBSv2 would be cool to have, but I guess it's all up to Nomura.

Maybe it'll just be a manga.

It was scrapped, in favor of KH3D.

If it happens thats one way it could.

As everyone else has said, it was scrapped. Notice how only the secret ending of BBSFM was removed from Youtube, not the whole secret episode? They wanted everyone to forget it existed, probably.

There were never any plans for BbSV2. It was never scrapped to begin with. However, I think Nomura will find a way in putting BbSV2 into KH3. How? Who knows. He's always unexpected.

Maybe it could be to KH3 wat Roxas and Twilight Town was to KH2, like a prelude to the actual story unless sum story elements have to happen later

Maybe. We'll see.

Nomura has said there is a story there, but they can't make a game for it at this time. You can't scrap a game when there is no game.

I'm 99% sure BBS V2 was supposed to be Aqua's time in the RoD and Mickey's travels there during KH 1 as well.