M.A.X ahhhh the good ol days! The game sucked.
No I mean really it was one of the very first games back then that were bugged as hell!
Okay I have to admit I liked it even if it was bugged. However I don't think that the Elemental engine would be a good base for such a game. As overkillbunny already said the only thing those two games have in common is that they are turn based. Period.
Elemental is more into the RPG-Strategy direction making most of it's features useless for a "make a turn, kill stuff" game like M.A.X 
....still would buy a remake of that one.