I wouldn't be surprised if Lucas has seen it, but he hasn't gone on record one way or the other.

Unfortunately, Star Wars: Revisited would have to be redone from scratch for it to be Blu-Ray quality, which Adywan (understandably) doesn't want to do. However, The Empire Strikes Back: Revisited will be in 720p high-def, which is about halfway in-between standard DVD quality and full Blu-Ray quality.

He's also hinted that Return of the Jedi: Revisited may be done at full 1080p (Blu-Ray) quality, and it seems likely that he'll use the new Blu-Ray set as a base for it and his prequel "Revisited"-s.