I'm sure Hollywood will - it routinely hands them out to actors and directors key to a franchise. My guess is that the estate wants compensation for LOTR, and that may be the sticking point, given that the money's already long divvied up.
Not if they already have a contract that gives you the points on profit where they like it. They don’t routinely hand out points on gross, they routinely deal with actors and directors that have been screwed over before and have developed the cache to be able to demand points on gross. Which is probably part of why the estate didn’t get it in the first place, the Hobbit cartoon flopped, and when these options were bought was before the golden age of CGI and it was a property considered to be largely unfilmable. Then PJ used every filming trick in the book, and wrote a couple of new chapters, to pull off LOTR. But it wasn’t a hot property, so there’s no way they would have given points on gross. Even now, given the difficulty of getting a director for Hobbit, it probably still won’t be considered hot, so nobody will be slavering to get the next option.