The Outsiders Director's Cut

[ER]

I guess I could look this up, but since I'm here amid the largest collection of movie experts I'll likely ever know, and it popped into my mind to wonder, maybe one or more of you has the answer.

My husband and I went to hear Rob Lowe talk a few years back and raise money for Dayton, Ohio (his home town) tornado victims, and he mentioned he and most of those involved in making The Outsiders forty years ago were disappointed in what the studio did to the film, how they cut it up and re-ordered its plot, and he said a restoration was in the works to put the movie back to the way he and everyone originally thought it was going to be.

So has this ever been made? Is it available to see?

(Also, credit where it's due, Rob Lowe was a more interesting speaker than you might think.)