Nope, there isn't a single active (moving) model in that screen that has lighting reacting to its textures. Every shadow on the models of the new build is solid edged and can be traced back to in-game objects (either the model itself or the trees above).

By comparison, the model caused shadows of the spider in the tech demo are soft and scale properly to light extension. On top of that, have a look at his legs. Notice how the lighting in reacting to all the little crevices? How is cascades over the object as though the textures themselves have been modeled?

Neither's tech is particularly impressive to be honest (compared to other open world games like SS and TW3), but the tech demo is certainly a long distance ahead of the new build and for obvious reasons.

But hey ho, I'll leave you to believe whatever tickles your fancy

Nope, there isn't a single active (moving) model in that screen that has lighting reacting to its textures. Every shadow on the models of the new build is solid edged and can be traced back to in-game objects (either the model itself or the trees above).

By comparison, the model caused shadows of the spider in the tech demo are soft and scale properly to light extension. On top of that, have a look at his legs. Notice how the lighting in reacting to all the little crevices? How is cascades over the object as though the textures themselves have been modeled?

Neither's tech is particularly impressive to be honest (compared to other open world games like SS and TW3), but the tech demo is certainly a long distance ahead of the new build and for obvious reasons.

But hey ho, I'll leave you to believe whatever tickles your fancy

Look closer at the arms of the Zelda U monster :)

Note how the monster's energy blast made a fire behind the horse, and said fire has created a light source which the textures of the horse's ass is responding too.  In this photo the sun is the primary light source and is located to the left, but blends with the fire to the right as we examine the horse ass and rear legs.  If you want to really check out lighting and texture detail, see how the red ambers impact Link's blue tuinc, but you really have to look closely for those ones :)

Note how the monster's energy blast made a fire behind the horse, and said fire has created a light source which the textures of the horse's ass is responding too.  In this photo the sun is the primary light source and is located to the left, but blends with the fire to the right as we examine the horse ass and rear legs.  If you want to really check out lighting and texture detail, see how the red ambers impact Link's blue tuinc, but you really have to look closely for those ones :)

It has dynamic lighting, it just doesn't have the complexity of light reacting across surface materials present in the tech demo, because again, the tech demo was able to focus Wii U's rendering power on two characters models (albiet one of them huge) in a hall, while the game itself, being open world, has to distribute that same amount of power over a much larger area, which means less power for each individual asset.

Obviously, which is why the real game is much more impressive.