Sounds interesting. A good story makes every game enjoyable 
I still remember a few things from the original V1 storyline and i try to implant it to my V2 story.
World lore:
The Star gates connect the 7 main pony realms, the hidden 8th gate leads to the Twin world of Celestis.
- The earth pony world is a major food supplier and the earth ponys have a limited magical power. Their world is mostly flat and only a few mountains exist. Their buildings are made mostly from wood and only a very few have stone or any other material in their homes.
They always help each other cause they live by the code: "Strenght in numbers".
- The air pony world is a shatterd world with small and medium size floating islands. The gate to other worlds is located on the largest island. Air ponys have a passiv ability called "light weight" which allows them to walk/stand on clouds. To help "grounded" ponys to travel around their world they have an airship system. The air and earth ponys are the same in size.
- The realm of the fire ponys have a very hostly enviroment. A lot of vulcanic terrian and mountains. Plains are very rare and the few they have have to be protected from the lava flows. Due to their draconic nature they are very attracted to "mana flows" that surrounds their wolrds. Fire ponys have a special spell (name unknown) that allows them to become ethereal and travel under gound and than extract precious materials like gold, silver, iron etc. It is very dangerous and they alwys do it in 2-3 pairs. Fire ponys are 3/4 taller than the earth and air ponys. So the are very big 
- The love pony realm is a sweet and romantic place. Their realm is bright and colorfull. A special thing about their realm is they have a living guardian, Shu' kar. She makes the land very peacefull, and so a lot of other ponys seek a new home in this peacefull, sweet romantic realm. But it comes with a price, reproducing ability is really low, since Shu' kar don't want the world to be over populated... 
- The realm of the feline ponys are similyar to the earth ponys realm. Feline ponys are omnivorous, and offten hunt animals in certin enviroments. Ponys on the nordic part of their world live in the most dangerous place. Fishing and hunting is part of their surviaval. They all wear cloths made from other animals fur, mostly from Arursa (kinda like a polar bear), and Kin' guin (shark size penguins). Those who are lucky and live on plains, their life is a bit more pleasant. Feline ponys sare the same size with the earth and air ponys.
- The realm of the water ponys is filled with danger and beauty at the same time. A mostly Aquatic world with a few small islands groups. Water ponys have the same connection with magic as the fire ponys. Their gate is located on a small island, and the first few who traveled there built a canal to the gate se the water ponys can travel other worlds as well. Same constructions were made during the years with the other gates also. Water ponys live in harmony with their wolrd. They mostly do tradeing with other races, mostly pearls and different kind of seafood.
- The next world is like a center main world where all pony races live togeather. A very balanced world where every pony race can find a place they are familiar with or like.
- The "twin world", the realm of the Celestial and Pegasus ponys. Their world is similar with the air ponys. Floating islands in the clouds and buildingsmade of different kind of craystals. Every island has a crystal core which determins the color of the buildings on it. The realam has a lot of powerfull magic in it and over the centuries both races geather knowledge and made a lot of reserches how to use it properly and effectively. A very unique thing in the Twin world is the great library the have. A lot of the geatherd knowledge is written in books but the ponies found a way to store memorys and their knowledge in crystals. Pegasus and Celestials like to wear cloths as well, but from very fine materials only, and they are very loyal to their chosen of heart. For this they have a majestic cathedral where every pony can state out their ethernal loyalty to each other.
Most ponies from other realms don't like the celestial and pegasus ponies due to their kind wanted to seal the gates and prevent ponies from traveling between realms. But the curent rulers of Celestis, Millenia and Millenium, trys to wash off the stains of their kinds past.
Side story: sometimes ponies use to come across antique remains of the past.
For grammar errors i apologise
Curently this is how i look at the V2 pony valley game. It has a great opportunity to become the baset online breeding game, it only needs a bit more story and a few new feature to make the world compleate 
