So I finally found something close that seems close to the actual facts about the Bamboo Trading Company, Dean, and the alleged new Dean album here:
http://smileysmile.net/board/index.php?topic=15389.0 in a post from David Beard.
The most relevant quote from David Beard is in direct answer to a post asking "May I ask why Dean isn't a member of this group? Wasn't this his idea for the album? Wasn't he gonna do an album of the same name? Or at least a group member?"
He says:
"Pretty simple really. Dean had a great time in the studio recording the songs he participated on. The article link you sent mentions two of the four recordings. We — Gary, Dean and I — evaluated the amount of participation that was comfortable for Dean. At the end of the day, Dean decided that he wanted to be a guest star. Gary then suggested a self-titled album.
Dean might be doing some more recordings, but that is still up in the air. "
So now we know

Cheers
Owen