Coming from a 4Gamer interview with Eiji Aonuma...
We have talked about that from the get-go, but we need to see how well Wind Waker HD does in order to set up our next title. Remakes are popular now, but we don’t know whether or not we will keep doing them from this point forward.
With Ocarina of Time 3D, we wanted a world which could expand using the feel of the 3D effect, that’s why we chose Ocarina of Time. So, it wasn’t just a regular revival, it was more of a rebirth in that case. We don’t know how many years it will be until the next remake, nor do we know what sort of hardware there will be. Perhaps, when there is a new piece of technology, we would look at existing Zelda games and decide if we would like to remake one of them.