Well i doubt they'd revamp the design of a stage-boss... I mean have any of the currently known bosses been revamped? Yellow Devil looks like, well, yellow devil, and there haven't been changes to The Dark Emperor as far as i saw, also if that Blooper is also a glorified stage hazard, it's design also hasn't been altered... So, maybe resizing/revamping some of his body proportions (like the supposed resize of his hands) could be seen as steps to make a small, playable Ridley look slick.
Though, to be honest, i was REALLY impressed at that Ridley-mod for Brawl someone posted a video of a few pages ago. Dayum that guy looked fun to play. Although there is little chance his moveset would stay the same, we have just so many chargeable projectile standard B's...Greninja, Lucario, Samus, Robin, possibly Mewtwo if he gets to be in the game...