I feel ya there. Doesn't sound like an expansion to me either. I'm not too worried about leveling up from scratch again, since the whole process is going to be somewhat different, or at least more complex. But I'm seriously wondering why they didn't choose to expand the original instead. It would've allowed those who don't want to level up again to continue playing for an additional 20 or so levels, and they could've added additional content for the levels 1-30 as well, making the game more interesting to those that don't mind leveling up a new character. Plus they wouldn't have needed to discard any of the content from the original, but rather combine it with the new, ending up creating something much bigger that what the sequel is bound to be alone, even if it would've included the recycled core game. I for one would love to play a new character and see how it works with both the old and the new content.
Regardless, I'm still looking forward to this 'expansion'. Just feels like they're throwing away a lot of potential by not directly expanding or continuing the original.