It'll be supported if someon who owns the hardware does it. There is no way to predict 'when', but at the very least, I wouldn't expect it this year.
No, if the first gen version of the software worked on the second gen, why would we even need a second gen version?
If it ever gets supported, it'll probably be as able to run video as the rest of the Rockbox targets, depending on how fast its processor is.