Its most likely a pitch to a studio, very similar to the mortal kombat footage we got earlier in the year, interestingly enough the full 3 minute test footage was shown at a private screening at anime evolution 2010, i must say i do recognize a couple of the actors in this footage which is interesting. I wouldnt absolutely rule this out as a fake just yet and someone of you have, i dont think any theater manager or owner would allow fake footage to be shot at the theater, maybe after closing hours? But still, id like to think this wouldnt be so bad for the pokemon franchise if this were to be put out into theaters, it'd be a radical approach but i think in order to branch out to larger audiences its something you have to do. You cant really base much off 38 seconds of footage (meaning mythos, characters, etc) so i wouldnt rule out that its just a completely serious movie.
Oh and the title shot at the end was quite nice.