Yea, there's a reason the Universal Kids park's Shrek area is now half Puss in Boots! It was a REALLY good movie, and I think the franchise is strong on its own even without the ogre.
Permits have them reusing portions of the existing structures back there, but I believe the plan is to slap a prefabricated temple facade on the front and turn the inside into Po's Kung Fu Training attraction, whatever that means.
I believe the Ball Factory insides have been stripped away.