Okay, I'll be honest. The last time this was tried, I was pretty pissed off at the participants. Neither of them took it seriously enough to the point where they even tried to follow the minimum word count rules, and I wasn't too impressed at the minimal effort to interpret the theme. This is a contest, yes. But it's also a genuine effort to help people practice the craft of writing, and it won't work if people don't give at least the minimum effort.
I had a blast running this at the other site years ago because people really put a lot of work into it - the contestants, and those who read the stories, offered critiques, and voted. Everyone who took part enjoyed it, but it's one of those things where people need to give it a good effort or there's no point. One of the goals is to give people practice in writing to a specific word count (can go over by a small margin, but not under) and a theme that they can interpret however they want, but it's got to be the focus of the story.
So how about this: We can get this going again if there's a commitment from at least four people who have the time and willingness over the next 2-3 weeks. I need at least one extra person/week who is able to step in at the last minute in case one of the official competitors has to drop out for some reason. I'm not going to run a contest with only one person because the other person backed out for some reason - been there, done that years ago, and it was a pain for everyone - including the person who actually was willing to be a last minute backup contestant in a situation of "Help, Iron Pen X just quit and the contest starts in 45 minutes; do you have time to write a story over the next 2 days so I don't have to cancel this round and disappoint the other person who didn't quit?"
Some people prefer using the weekend for their 48 hours, and others might prefer weekdays. If you're willing to commit to this and have a preference for weekends or weekdays, please PM me and let me know (part of the contest is to preserve the competitors' anonymity so only they and myself know who wrote what until it's over). I can't guarantee to be able to match people with their preferences, but will try.
I had planned to do NaNoWriMo this month but RL got in the way. So I have the time to do this. We can start as early as this weekend or maybe Monday if enough people are interested.