Personally, nothing will ever match the fear the original sharptooth in the first movie brought. I think to make another movie and try to match that same level would be impossible, if not highly difficult, because the movies have now taken the turn for the youth audiance. The first one was so successful because it appealed to a much broader "family" audiance, but now it seems families all together just get these movies because the kids love them.
On the subject of fan ideas, I think the main reason why fan ideas are not accepted is because if they were, Universal would have thousands and thousands AND THOUSANDS of requests, and all of them probably revolving around the same subject (Littlefoot and Ali getting together again, etc...). It's hard enough to try and make a movie to appeal to an audiance. It's even more work to make a sequel, or in this case sequels, to try and play upon the success of the previous movie. I can't imagine the stress Universal would be put through if fan ideas were sent to them.
Besides, I fully agree with Malte. We really don't need another movie to keep our passion alive, because we've already established it here at GOF. We can continue to dream and come up with fanfics, rps, or other ideas to satisfy our imagination, and I feel that's perfectly enough.