I heard they made an unreleased sequel to this movie.

Yes, in Krull 2 Colwyn journeys to a swamp to be trained in the use of his fire powers and the princess, the leader of the outlaws and the magician go to a city high on top of a mountain where they are betrayed to the beast, who uses them lure Colwyn

Yes. The Wizard of Oz built a companion to the Great Library of Pseudobiblia called the Great Library of Pseudocinema and placed in it such movies as Krull: Ruler of the Galaxy, John Carter: The Gods of Mars, and any Saw film that was worthwhile and actually made sense.

Requiescat in pace, Krystle Papile. I'll always miss you.

No, they didn't.

I was tempted to leave another humorous and sarcastic reply, but begged off. I figured you had had enough of that.