I enjoyed Thomas's writing at the time, but I don't know if new stories of his would work in the current storytelling era. Comics are written very differently, with focuses on different elements of a story, and I'd worry that Thomas's work would either come across as being old fashioned/out of touch or, on the other side, accused of trying way too hard to fit into the modern storytelling conventions. I'd honestly rather have a writer with a fresher approach try and tackle a property like All-Star Squadron.
All that said, I don't know if I need another All-Star Squadron comic (or any team fighting in WWII). I'd rather see some of the Squadron character starring in a post-war book, after the JSA have disappeared from the HUAC hearing. That's an era that's barely been explored in comics.