That "Live In Australia" album is amazing - beautiful versions of Elton's music...
I have some quibbles with that album but not really anything particular to Elton or the arrangements or performance.

And arrangements are by James Newton Howard who later went big into the film scoring world. There is a
nice Wikipedia entry on this album, by the way. And I have not heard the remastered version - but as I understand it, it's only remastered from the original source final mix, so same mix heard on the earlier release, and not
remixed.
My issue is more a sound quality thing and live recordings in general, made worse if it's with an orchestra. It's mostly because, especially with a symphony orchestra, to paraphrase one professional recording engineer on classical recordings I heard interviewed once about the trend of just a single overhead microphone hanging roughly in position over the conductor's podium, "To think that you can shove an entire symphony orchestra down into one microphone - and only two left-and-right channels in the resulting recording - is just ridiculous".
With live recordings I don't really always feel like I'm right "there" listening with that crowd (a "fly on the wall") the night it was performed/recorded, which should be the goal of a good live recording - often all sense of the venue and hall are lost in the merge down to left-and-right channels no matter how much mic'ing they do of the room, overhead, direct-inputs to the board for the backing band's instruments, etc. These recordings are better in 5.1 or 7.1 and if done well can put you in a wonderful sense of perspective in sitting in the venue, you hear applause from all around you - but DVD-A and SACD formats never caught on majorly for anything,
let alone surround sound recordings. Although, the latest trend with high-definition and surround-sound music are using Blu-Ray discs to carry predominantly audio (and no or minimal picture/slideshow content) and this has improved a little over the years especially for niche/audiophile labels.
Sorry for the mini-rant, potentially of interest here to nobody, rofl.

Great performances on the disc though, no question - but it's always a problem in really feeling like a live recording is transporting you there.