I personally have heard nothing about new bleachers but I do know there is a fundraising campaign to purchase and install lights. I am a proponent of new bleachers however, I am not feeling the lights so much. Can't see that beautiful view of the Pacific Ocean at night.
When they added the new dorms behind/above the soccer field, I discussed with others how it would have been cool if they dug out the hillside between the road above and the track that goes around the field and built a locker room for the girls and then put some stands above it. If you've been to Stanford's Cagan Stadium it would look something like that.