Honestly, I don't think this is legit at all.

Though I will say that if this is a fake, then this one's pretty convincing at the very least.

Ah, I didn't realize they had different pics in game...doesn't change my doubt that this is real though

But the ESRB leak had video footage.

4chan is the source of leaks and fakes, so we don't know.

Everyone look at the OP, new pic.

It would be a strange choice if it's not a fake considering Ubisoft's determination to make their games fail on WiiU. There are other better, more appropriate and more deserving characters.

On the whole a very good fake, if it is one, but my ninja Photoshop skills tell me that the background yellow colour on the character select screen doesn't quite match, which can be very hard to do when trying to clone stamp from a mottled background.

https://www.youtube.com/watch?v=5Q27o-0vyMM

This is megaton.

also....there's a picture of rayman & mewtwo and rest of 3DS roster screen.
http://i.imgur.com/GVnrOXg.png

Oh fuck... that vid... Oh boy...

And I tried to get that pic up... Ugh my stuff's being dumb.

Yeeee.. Those eyebrows ruin him, really. :/

IF this is real, then Nintendo and ubisoft must be gearing up to feature some exclusive rayman game for wii-u or 3ds.

and imo, shame on nintendo if rayman gets in before bayonetta.

edit:

well after seeing that video from above, I'm sold. notice how the background moves perfectly insync with his character icon.

I'm gonna sayfake, clearly the one who made this doesn't have the criativity to make an announcement message for smash, I'm sure the smash team could have thought of a more creative way to introduce rayman other then he simply joins the battle.