Well the closest thing to a "remake" mod, is team avalanche, (last forum on the list). we are remaking all the visual assets of the game at higher quality and resolution, while maintaining the style of the original game. there is /a lot/ to do, so dont expect things too fast from us, we arn't very numerous. As to mods in general, there are a number of editors to modify the game as you see fit, you'll find them in game tweaking, such as wallmarket, proudclod, whitechoco, etc (thers a ton, n i dont really use them so you'll have to hunt em yerself). The pheonix rejuv project is rather dead right now as far as i know, and it involved modifying field characters to look more like characters in battle. (correct me if i'm off).
The other mod of particular note is Aali's custom driver, which can be found in tech related, and allows you to play ff7 at higher resolutions, and does a bunch of other magic things too...
hope this helps!