I know when it was planned they were going to cover all eight or so of the books on a yearly basis, but after the first season I haven't seen any news on the sequels? That and Li Yi Feng has been busy with his other projects. Does anyone have any info? Good or bad?

The Mystic Nine is a prequel that is out now, but I haven't seen any subs for it yet.
Not sure if they will be able to do next season since the first one got banned in China in the beginning of the year. And if they can't air the series then there is no meaning in filming it but who knows. For now I didn't see any official news about the next season.
I didn't see anything about it getting banned? Although I have heard that as of yet there has been no news/filming and no guarantee that Li Yifeng will actually be in it if it continues... which kinda sucks =/