In an unexpected twist of events, it seems like the sequel was originally planned for the 32X. Here's the designs that have been released so far: https://twitter.com/AncientGames_JP/status/748084040637493248 https://twitter.com/ariga_megamix/status/748134007737585664
Thank goodness the sequel came out on the Saturn instead, dodged a bullet there, though technically that was a prequel.
I don't see how we "dodged a bullet," it's not like the Saturn version of Legend of Oasis sold very well either, and it doesn't look like it does much on the Saturn that the 32X couldn't have handled anyways. The pictures above paint this more as a straight up sequel to Beyond Oasis rather than the prequel Legend of Oasis was, though. The spirits are the same as the first game in those pics.
Obviously it didn't sell well, I had it on Saturn though and I am glad it came out on that instead of the god awful 32X, which I didn't want to fork over money for. I can't recall 32X doing any games well either beyond Tempo and Kolibri, so odds are it would have been executed worse.