I would hope that they do something in a similar way to how they handled the Mario anniversary, but part of me feels they won't be doing much at all.
My main hope would be that they re-release the GameCube compilation of the older Zelda titles, but the glitchy port of MM might sour the experience there. Green systems wold be nice, but this late in the game of the consoles' life wpan (being the Wii and DSi) I would think they wouldn't do another refresher. Although Black Friday sales figures point to them going strong, I feel a Zelda Wii or DS bundle would be aimed mainly at people who already own the systems and wouldn't want another one.
Mario's a lot wider known amongst non-gamers, so the red bundles currently out there are great for them. Even my friend's wife wants a red Wii just because it's shiny and red and Mario-esque. Link is known amongst gamers primarily. It has even been stated in the Iwata Asks columns that back in the 80's it was decided to just push Mario as the mascott and leave Link aside. It was reccomended to Nintendo by someone (who escapes me at this time) that competing mascotts would be a bad idea. So, they decided to franchise Mario over Link. I think, while there it more merch of Link these days, the general concept of Mario being the mascott is still happening today.
If they did a 3DS bundle, that would be fantastic, but Wii and DSi is probably not likely. Disappointing too, because around the release of Spirit Tracks, Nintendo themselves had been showing it on a green DSi to some media outlets (without focusing on the green system). I wonder what happened to it...
But really, my main hope if I would be allowed to dream would be to have Wind Waker available as a New Play Control title. If this were the only 25th Zelda Anniversary 'event', I would be happy. It seems like a HUGE missed opportunity to bring those gorgeous graphics to the widescreen presentation. Give baton controls to the Wii remote (a natural) and otherwise give the game TP controls. Seems like they dropped the ball on not doing this during the first (and final) wave of NPC games.