I was wondering, if this did happen would that mean we would not see Chrono Trigger on the Wii virtual console? Would this also mean we would lose any chance of seeing released on the DS/GBA/PSP?
It's way too early to make any claims on how this would play out, even if it does play out. I still think this is just a rumor at this point, because I haven't seen this news on any other site, but one. Nintendo could still get the license for Chrono Trigger and put it on the virtual console because it was originally for the Super Nintendo. It would just cost them a little more than originally planned I think.
As far as the DS/GBA/PSP I have no idea if anything would ever come out on those systems. Especially the GBA, that system is being replaced by the DS sadly. As for the DS/PSP it might be cool for them to release a Chrono game on them, but I'd rather have a new game for one of the next gen systems anyways, but that just my opinion.