Looks like we got the bad ending.
From The Lost Media Wiki
The film reels containing the black and white directors cut of Martin are being sold at julies auction with the results coming in on august 16th. There is a 82% chance the person who wins the auction will not release it.
As for second sights restoration of if, yeah, as much as I hate to say it, you guys can forget about it, it was cancelled.
I’m honestly disappointed by this news. I really would have loved to see that 165 minute cut. We can only hope the person who wins the auction would be willing to share it.