The series is complete, though sadly the death of the author meant that the last 3 volumes, well 2 and a half just lost the same flair, though I am glad it was finished. Some series are sadly left to disappear and linger without an end due to the death of the author (Kaze no stigma being my most saddest memory).
I would be happy for this series, but I think everything depends on the success of the other rescue series bought by J Novel for this to be even considered. The style of prose for light novel continually changes, I must admit that Slayers was sadly not to my taste so that has not been added to my repertoire but I'm sure it has to others.
But until then, the 4 series of the anime will be the fix for those who want to have an idea of this series.