It's hard to say, but I feel it's unlikely.
While many shows prove to have a relatively healthy life after flopping on Broadway because people fall in love with the cast album ("Baker's Wife", "Merrily We Roll Along", "Rags", "Working", etc.), "Lestat" has many huge obstacles.
It's very costume heavy (300 years or so's worth). Scenery you can skimp on if you have great costumes.
So, you've just ruled out most small and amateur theater groups. The only ones left would be college theaters.
And I don't see Elton John or Bernie Taupin being the way Stephen Schwartz is, encouraging smaller productions of his flops for the chance to keep working on it.
"A coherent existance after so many years of muddle" - Desiree' Armfelt, A Little Night Music
"Life keeps happening everyday, Say Yes" - 70, Girls, 70
"Life is what you do while you're waiting to die" - Zorba