Mr Aonuma has just given a short interview in which he discusses the HD Legend of Zelda footage that we saw at Nintendo’s E3 conference. He pretty much went on to say that the video was just a tech demo and was not part of any game that is in development.
With that said we should all remember the Space World demo in 2000 and know that the Wii U clip does not mean that the next Zelda title will maintain that style of graphics.