George hasn't seen the trailer yet:
George Lucas said:
I don’t know anything about it. I haven’t seen it yet because it’s not in the movie theater. I like going to the movies and watching the whole thing there.
For those that worried he was still involved. He wrote a general story outline for the next three films and then handed it off to Kathleen. He put Kathleen Kennedy in charge so he wouldn't have to deal with Star Wars anymore.
In fact, while he said he plans to see the new film when its released; when asked if he was interested to see J.J.'s take on Star Wars his response was:
George Lucas said:
Not really.
Right now he's more concerned with securing the land for his proposed museum and has been fighting a federal lawsuit over it.
He left Kathleen Kennedy in charge because he trusts her judgement. She's the one running the show now.