Will a Season 2 happen?
It is not known If a Season 2 will Happen, but if it does, some Season 1 and some debuters will compete.
What happens to the Fourth Generation if Season 2 doesn't happen?
If it doesn't happen, the Fourth Generation could be the
final Object Cubes related thing.
Will there be a second debut or not?
There will around Episode 16, however after that there might be a third debut in season 2 after.