Bosola's got his project, Gjoerulv has a
Hardcore mod, I've made an
FF7 Remastered Mod (those last two are both included in the
FFVII remix patch), Auraplatonic, I believe is working on a
"Not-so-hardcore" mod, and with the tools that NFITC1, Bosola, and I are developing, it's becoming pretty rudimentary to make your own substantial mod.
If you want new monster models, the only ones I can recall that have been done so far are a remade Diamond Weapon, and a Guard Scorpion is currently in the works. Once again, once they're done, they'll be available as part of the Team Avalanche Overhaul most likely.