Well, this might ease your fears a little bit. The gang over at Ain't It Cool News snagged some exclusive details. Apparently, Straczynski's script will be more of a continuation, or a companion piece, than an actual remake. It's possible the new movie retcons the story a bit, and leaves Altair 4 intact and alive. The beloved Robby the Robot will be in it, and the movie will be "an enormous, giant, retro sci-fi movie ... nothing sleek or 'chromy'" in its visuals.
If you were a Babylon 5 fan, you know Straczynski's love for the original film runs as deep as anyone else's. It sounds like he's trying to do right by the story, and yet give fans a little something new. If it's a movie that continues the nightmares of the original, I think that could be pretty darn cool, and a nice break from the reboots and outright remakes that are taking over Hollywood. But, let's turn it over to you Planet fans in the comments, and see if this softens the blow, or just rubs salt in the wound.