I guess you could call these the Prequel Trilogy Special Editions we never even knew we wanted.
There will be a purist cut akin to the special edition. No pacing edits or such, just an upgrade to certain visuals. The other version will be more of an over haul. Extending the attack of Theed and Escape of Theed. Cutting Palpatine connection to the Federation. Cutting Yoda. Edits to pacing, dialogue for aliens and droids, and music. Plus plenty more edits.
Lucas brought this on with the special edition and Adywan should it was possible with a lot of hard work. I want to honor the story and ultimate vision of Lucas though in both edits. I do absolutely love the Prequels and story it tells