Eric Bress, the writer and director of the 2004 flick, is returning to write a new script and producers AJ Dix, Anthony Rhulen, Chris Bender, and JC Spink are returning as well. Looks like the only new member we have is FilmEngine president Navid McIlhargey. No director or cast is set just yet.
Now... I think it's a bit odd that they are rebooting this film with the same people. If they didn't think it worked the first time then why would you try it again with the same people? It's not like the movie was a failure either. It made almost $100 million at the box office and only had a $13 million budget through New Line Cinema.
I personally like The Butterfly Effect and have since it came out. I thought the story was cool and that Ashton Kutcher wasn't all that bad. The segment where he went to jail was my favorite.
Here's the trailer for the original movie. If you've never seen it I would go ahead and check it out.