No, I think it's just Shinsei Industry that was behind the YF-24 Evolution's development, there's no source to this following claim but I believe it's General Galaxy (who funded Macross Galaxy) was the one who adapted the YF-24 into Lucifer VF-27 (because it's pretty much a next-gen YF-21/VF-22).
So yeah, in this OVA, we get to see a grown up Yang Neuman helping the team, collecting data, maintaining VFs and stuff, and maybe a cameo of Algus Selzer.
Dude, it's dead set on, Macross fleet/NUNS vs Space pirates, as we can see, they are no mean a small faction in the Macross 7 Dynamite, I expect they are already expanded a lot by now and It'd be fun to see next-gen VFs vs lousy custom VFs of the pirate faction.
I seriously hate Kaifun, but let's just have him there so we can make fun of him one more time. And after all, he's searching for Lin Minmei (and the Megaroad 01).