Adventure platformer from Might and Delight (former GRIN bods). Aiming for late 2012.
Giantbomb has an interview/reveal but it's full of guff.
It's influences are blatantly obvious but it looks okay. The constellations are really nice but I have a feeling the game would get too involved later on (for me).
Since the logo can be read rotated 180? I expect that would be another feature of the game world.