If I see a single trailer referenced multiple times in one morning on Twitter and more than one message board, there's a good chance I'm going to watch it. You should watch this too.
The game is Insanely Twisted Shadow Planet, and it appears to be the brainchild of animator Michel Gagné, who's worked on everything from An American Tail (Fievel!!!) to best-movie-of-all-time The Iron Giant. This looks like some fashion of puzzle-oriented shooter for the PC, and there's an official production blog you can take a look at for some background on the game.
More to the point, I think I just had one of those "I can't believe games look like this now" sorts of moments.