There is a new item called the Vex Chronospanner.

Single-use piece of Vex technology. If you complete a given week's Nightfall or Weekly Heroic Strike with this token in your Inventory, and then play through that activity again in the same week, you'll be re-eligible for rewards as if it was your first playthrough.

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I hope it drops in addition to other items, otherwise it'll create an unnecessary replay of the nightfall/heroic.

Since you apparently have to complete the nightfall run with the item ALREADY in your inventory for it to activate, you probably get it somewhere else.

If it awards a second chunk of rep and legendary marks, I'm very interested.

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I hadn't even considered that! And also, since it's a piece of Vex technology, it may even drop from the VoG? That way players would be encouraged to still play it.

Could be. The whole time manipulation thing would fit with the Vault mythos.

The other thing I thought of is that it might drop from the new Vex strike, but I hope not since that's a PlayStation exclusive.