I know this may not be the best time to bring up the topic, but... instead of a Majoras Mask 3D remake, why not a sequel/prequel to Majora's Mask? Or even both a remake and a new MM? This was just a passing of ideas so feel free to ignore, share opinions or flame if you feel the need, I... guess.
Well, Ocarina of Time is a direct prequel to MM. The difference is a matter of a couple days, if I understand it correctly. That doesn't leave much time for a prequel. A sequel though...I'm assuming you mean another one set in Termina. I'm not sure if that'd go over well, since MM was the only console Zelda to not focus on Hyrule (WW still had Hyrule...it was just flooded). It'd depend on what the majority of LoZ fans thought. Remember, it's what the crowd as a whole wants, not what a section of the crowd wants.
As for me personally, MM is the one Zelda game I haven't played. I believe I have a copy of it on one of the collector's Zelda Gamecube disks my dad has, but I'm not sure...so if I want to see what MM is I could probably play it. A remake therefore doesn't make much sense for me.
As Regal said OoT is a direct prequel so that's out of the question and really I don't see how a sequel would work. If they made a sequel I wouldn't throw away trying it, but I don't see what more they could do. I mean everyone was going to die. I don't see it being any worse for them.
However in my searching of Majora's Mask stuff after beating the game since I loved it so much I found this...
Er... maybe I should have made that clearer, I apologize. What I was meaning to say was as a prequel to see where, if possible, the actual mask originated. (Twilight Princess had a few hints in Midnas mask design...) But ,thinking about a prequel now, that seems a little unlikely, doesn't it...?