Avatar: The Legend of Korra

I recently stumbled upon news that Viacom just copyrighted the title "Avatar: Legend of Korra"! But nothing is known about what this series will be about yet. But it has got to have something to do with Avatar: The Last Airbender! I also read somewhere that Mike and Bryan who created ATLA will be working on this new show. So there's no way that it won't be taking place in the same world as the other Avatar-show. Oh, I'm so exited! Now I'm even more exited for this than the upcoming movie.

From the title, I think I can deduce a few facts about what it will be about:

• First off, since the title is "legend of", this Korra most likely is an Avatar. I don't really see a reason for the story of this person to become a legend if it's not about an Avatar. But I could be wrong.
• The name "Korra" seems to belong to a female waterbender. Or at least a waterbender, since their names almost always have a K in them.
• Soo, most likely about a female Watertribe Avatar. And as we geeks know, the Avatar after Aang would be a waterbender, and most likely a female one, since the last two were male.

I really hope they go for a prequel-story. To be following the Avatar after Aang will just be too sad, because that means he will have to be dead. And I love Aang so much, I don't want him and the gaang to be dead! So, I hope that it will take place in the past.

But I read someone come up with a very good, plaucible theory on a forum somewhere; what if this will be about the very first Avatar? The first element in the Avatar cycle is water, so that fits perfectly! That would make an original interesting story. And all the air nomads would still be alive!

Woo, now my head is buzzing with theories and anticipation!