That's my guess. I think the last VU update which ended up revamping the mining tools was meant to cater for the treasure hunting implemented on Arkadia. Perhaps Arkadia will have some Arkadia-specific design of mining tools, but their functionality will probably be the same.
Yes all existing tools and equipment will work on Arkadia. As admin suggested, the Arkadian mining equipment works the same way your current equipment works - you can decide which equipment you want to use. The equipment is also interchangeable, so an Arkadia amp will fit a Calypso mining tool and vis-a-versa. Same with weapon attachments.
. Look at that, the CEO bossman of Arkadia even comes here to respond to questions. :) Thanks as always for keeping us informed Dave, it's really appreciated.
It is a shame that the bugged mining finders and excavators have are ruining some of the fun of the Arkadia release. I like Arkadia so far, but I would do much more exploring and so would other if mining was working properly. Its been over a week, and we don't even have an official message acknowledging these bugs and letting us know a fix is being worked on.