Skipton - Colne always feels like one of those closures that should never have happened. Had it survived no doubt it would be well used. The whole of this corner of Lancashire seems to have suffered, for a significant period the Copy Pit route only had a summer through service. Equally leaving Colne as a withered arm at the end of a branch on what was previously a through railway was typical of the short sighted out closures in the 60s.
I have to say I dont think it will reopen, politically its an area where there is no political 'mileage' to be made. Would there be through trains to Leeds, possibly not as electrifying the Preston Colne is going to add another big chunk of money to the scheme, so the Colne service extending to Skipton is most likely. Would it have a use as a freight route?
I cant imagine any Westminster politician of any party signing up to this..., and given the costs, its going to take buyin from Westminster. The Northumberland lines were already in existance, and politically the NE has been much more fickle through recent elections...
Sorry to labour the political points, but unless politicians get behind it properly (not just lip service and studies) then its not going to happen with in any foreseeable timescale.