All of this is a roundabout way of saying that both Clash of the Titans and Journey to the Center of the Earth are two films that were crippled by all involved, including the Creatives. Sure, the Bean Counter/Suit decision to rush post-production 3D conversion on Clash was a dreadful one, but even in 2D the movie still has a weak script and an uncharismatic lead actor. And Center of the Earth is just bad, even as a kids film, no matter what dimension it's presented in. So really, the news that their respective studios want sequels to both films made without the involvement of all of the original's Creatives isn't inherently a bad thing.
On the Clash front, original director Louis Leterrier will actually be sticking around as an executive producer for Warner Brothers and Legendary Pictures. However, Sam Worthington is contractually obligated to reprise his leading role, so his return isn't any cause for excitement. Greg Berlanti will write the general story, but the actual scripting duties will go to a yet unnamed party. The production has a spring 2012 release date planned.
On the Center of the Earth Front, it's looking like New Line/Walden Media's fall 2011 release schedule means that original director Eric Brevig, currently tied up with WB's 3D Yogi Bear movie, won't be returning. And apparently that in turn means star Brendan Fraser also won't be returning, though his absence is less a scheduling conflict and more out of loyalty to Brevig. This means that the studio is currently exploring shaping the film around Josh Hutcherson's character instead, which wouldn't be such a bad thing. I mean, does anyone really go to see a movie explicitly because of Brendan Fraser any more? Maybe I'm just getting too old to make that call.