Jeuxvideo, a prominent French video game website, sat down for an interview with the veteran composer of the series and asked him "Allez vous travailler dans le remake de FFVII?" - are you going to work on the FFVII remake? Nobuo replied that he is not.
What this means for the soundtrack of the remake is uncertain. Nobuo's classic tracks are certainly still there and they would be mad to cut or radically remix them beyond recognition, unless they wish to endure the full ire of the fans. It is very conceivable that they will bring someone else in to build on the foundations of what Nobuo created with a handful of original tracks. We'll have to see.
Siliconera | Nova Crystallis