I think a better solution (rather than updating the race list etc), at least for me, is the next time reincarnate comes up to have the player being reincarnated come up with a list of 5 races that they ight reincarnate as.
Yes this is metagaming, but I'm ok with that here. It means that the table doesn't ever have to be updated when new races come out. It means that a player is not going to end up with a race that they feel is unplayable. It means that the DM can approve the races that are possible. And, it still can help lead to fun and quirky moments tat bring enjoyment to the game.