Not sure about coin swap, but a some refresh would be definitely helpful. One thing this coin really needs to survive - is increased mining block reward, as with existing reward there is no sense in mining, so the chain would eventually stop.

Asa to the new code base, that would be great, but many people don't like coin swaps, as basically that means launching a new coin, with some of the balances transferred. I have seen such work done on KittehCoin, and if I remember right, part of the community preferred to stay on the old chain.

Would be interesting to listen what other folks think of it, especially bigger holders, who should be genuinely interested in reviving the project.