Funnily enough this airing was what made me get into Gundam in the first place, in fact I watched CCA just today. Even having the references fresh in my mind... you really have to be a real oldhead to call this good as a whole. Enjoying it for what it is is fine I guess, probably what the creators wanted in the first place. Just some self-indulgent stuff.
Sorry to say but there's 0 chances of a sequel. If we're lucky we'll eventually get another Khara/Tsurumaki Gundam related project, but no GQX.
12 eps is the longest a Tsurumaki directed project has ever been, and the only show he's been director for that has gotten a sequel was FLCL which doesn't even count for obvious reasons. He clearly believes on density over length, everything he has made is short and rushed/incomprehensible to some level. He wanted to make an entertaining and stylish Gundam show with a hundred tons of 0079 wank, and this is what GQX is, literally nothing more, nothing less. For better or worse.