A few comments.
I was a fan of WD way way back in the day. Even posted occasionally on WD's board. One of the reason's I bought a sega-cd was to play lunar, and even picked up Vay as well based on the fact it was from WD alone. I made it a fact to rebuy the luna sets for the ps, and play a lot of the games just because they were from WD, and at that time, only WD gave you the quality that was seen as deluxe in the states, but atarimae (completely normal) in Japan.
Come PS2 though, Sony's anti-RPG/2D policy was fairly famous, and when you stop to think about it, I guess we were lucky to get games like Persona, and Suikoden before FF7 dropped and changed things.
Now though, RPG's are now a standard genre, niche games are normal, I go back to the States to visit (living in Japan for over 2 years now) and am amazed now at what's available. I can't believe they released this here, or that here, and my friends just laugh.
The point is, it's a crowded market, and a lot of the quality games, standard big names, and niche titles are being brought over. I wish luck to Vic in his new investment, and am in a way jealous, I'd love to break into the localization field (not that I've not applied to SE, Capcom, and what not over here, but I digress). The problem I think is that the market, is like I said, crowded, and a lot more companies are picking up, localizing their own and game and releasing them in the states. I think it's going to be a long haul, and I'd hate to see Vic have to call it quits a second time. Personally, I think it comes down to system and software, but that would make the post longer, so I'll refrain.
Lastly, the name.
As someone who's studied Japanese for 5 years, now lived in Japan for over three years, I... cringe.
It's not a racial slur in the sense that it targets any specific ethnicity, it's more of a word that targets anyone that isn't Japanese. You'll hear gaikokujin as the polite word, and gaijin and the normally used word. I use it myself, jokingly, ah, gaijin da! and my japanese friend will tsukomi me, omae datte gaijin da! and we laugh and whatnot.
But not everyone feels that way.
The best way I can explain it, is back in college, a lot of my international friends, were labeled as "resident alien" the word alien really made a lot of them feel bad, japanese, european, etc. They understand the meaning behind it, but being labeled an "alien" was not a good feeling to them. To me, I don't mind being labeled a gaikokujin, or resident alien, but being labeled a gaijin, or alien, depending on context of usage is very disturbing at times.
While not a racial slur, it's not a word that makes everyone laugh either. It'll get people to sit up and notice here, but the reaction, from people who are not close friends, may not be so good.
That said, it's pretty obvious the name is set in stone, and so we'll just have to sit and see what happens.
Unfortunately, I'm in Japan, so I probably won't see any of the new software since I just play the originals now. ^_^
Good luck to you Vic, and if you need staff in Japan and are hiring, I'll be one of the first to send my resume (はい、自慢しちゃってごめんなさいw)