Ringo, currently I am uncertain of who exactly is in charge of the ranch, but I think it is commander courage. As far as who are members of the ranch, I guess there are some unofficial ones but the general idea has always been for brain storming from community, not just the editors. Current state of development is or was absolutely nothing. It was originally planned to make all six films, filling in and ironing out all the plot holes and making a complete saga. At one point Trooperman's episode II edit was going to be the ranch Ep. II, if this is still the case then I guess you could say the ranch is pretty close (but yet painfully far) from finishing one. Of course we have not seen Shroud of the Darkside yet, so we don't know how it turned out. Also if we use Shroud, TM will have to dub the voice of Anakin for Ep. III.
"Are you guys actually doing all 6 films or rather tagging other works as 'ranch aproved'?
The ranched approved thing has never been part of the plan as far as I know.
EDIT: d'oh! Looks like Musicman beat me to answering Ringo's questions. Sorry about the redundant data.