There were a lot of things that were messed up out of the gate when webOS was first introduced. One of them is a mistake that LG wouldn't make...poor advertising. Palm had those creepy woman ads and others that didn't even make sense. LG has the ability to do things right if they want to make it happen.
i don't ever see lg putting webos back on phones. tv's yes but not tablets or smartphones.
The only way they might put it on a phone is if they could tap into the android ecosystem of apps. Or if the tv takes off and there is an ecosystem built around it enough to make it worth it. Just my $0.02.