According to an article by the Auburn Villager, the tree on Magnolia Avenue will be replaced.

For those who drove by the corner before the intersection was closed for the renovations to the area, it was obvious that this tree was struggling. It is not dead, but it is not putting out leaves, either. Meanwhile, the College Street Oak is doing quite well.

The third, "spare" oak that was brought when the two trees were replaced on Valentine's Day will not be used. The school is planning on going with a tree from a farm in Florida according to the Auburn Villager article.