I know it's still a few months away, but I think we should start this discussion. From all of the available information, this looks to be a total reboot of the LSH, from character designs to even setting the book in the 32nd Century, rather than the 31st.
First, we will need a new reality designation. Maybe (Millennium) after the Legion of Super-Heroes: Millennium miniseries that sets up the reboot? I think a template similar to PEboilerplate would also be useful because there are so many characters.