Originally conceived as an album, Romanov is described as a rock opera about the Russian Bolshevik Revolution in 1918. The work is complete and "ready to go," O'Neill stated.

According to O'Neill, "A number of people who have a lot of credibility on Broadway heard it and said it's too good to just go and do a record. It should be a Broadway musical, and I always wanted to take on Broadway, so we pulled it back."

Also in development is Gutter Ballet, which began life as an album for the group Savatage, but will be expanded for the stage with Savatage front man Jon Oliva.

Previously, O'Neill also stated that the album "Beethoven's Last Night" could also be developed as a stage musical.

Timelines are not in place for either Romanov or Gutter Ballet, but O'Neill hopes to focus on the projects in January 2011 during a hiatus from the Trans-Siberian Orchestra tour. O'Neill also intends to release concept albums of both productions prior to their stage debuts, akin to the route taken for such musicals as Jesus Christ Superstar, Evita, Chess and Jekyll & Hyde.