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http://www.nintendoeverything.com/?p=1432

Here's what the article says about the Conduit. 

" - Confirmation of The Conduit multiplayer - Deathmatch teaser was referring to online component, multiplayer deathmatch. Devs. of The Conduit have been contacted by many publishers, but are taking their time so they can make the game they want to make. “Yes, we are planning on online multiplayer. We don’t yet know how many simultaneous players we’ll be able to support. The other thing folks seem to have a lot questions on the forumsfront is the lack of a publisher. For what it’s worth, we have no shortages of options now both large and small but we are taking our time. We have our own funding to entirely complete the game and it’s not that we don’t play well with others, we just want to be far enough along that someone doesn’t come along and monkey the whole thing up. We’ve worked on enough licensed titles that had the potential to be good but an arm-chaired quarterback came in and mandated a very bad direction. The further along we are, the less likely that is to happen. We really want The Conduit to be something special for the Wii and for us, you know?”
- Gyrostar release date: “Gyrostar is sitting in Nintendo’s hands and if I had to guess, I’d say June 16th. But if folks pester Nintendo, maybe they’ll be motivated to push it out sooner?” "

So, multiplayer and online of some sort, which the trailer hinted at, has now been confirmed.

Also, who do you think the Publisher will be?