As we look at Twilight Princess HD as a more tangible reality, the point to be raised is: who would be working on it?

There are at least 3 developers that come to my mind mind

Grezzo

These guys of course remastered OoT and Majora's Mask, so they're obviously trusted with the IP. Consider it suspicious that the remaster of Majora's Mask took longer than the original N64 game. Perhaps staff were spread over to Twilight Princess HD in that same time?

Retro Studios

Very early on, Retro was assigned to develop toolsets and engines for the WiiU. While it can't for certain be said that Retro Studio created the original Zelda tech demo, perhaps it's not out the question they built more off that prototype and ended up with a promising concept for Twilight Princess HD.

Tantalus

Tantalus has done excellent ports of Mass Effect 3 and Deus Ex: HR on WiiU. They certainly have the right pedigree, but just haven't worked with the right IP to deliver a big hit on WiiU.

Given the quality of those ports, as Nintendo external developers go, few show as much promise as Tantalus. Since early 2014, they've been working on a mystery 'AAA' title and/or remaster for WiiU. It's been mentioned that the IP they're working on isn't a M-rated title like their previous WiiU games. And that's all we know. Considering the fact 3rd parties probably aren't interested in porting AAA games to WiiU, there's a substantially good chance it's a title Tantalus is working directly with Nintendo on. It may very well be the hotly-rumored Twilight Princess HD.

Anyone else come to mind?

Nintendo EAD 3. Same studio that did Wind Waker HD.

Sure they could do it, but I'd presume Nintendo wants most EAD folk working on Zelda title on Wii U to be focused on Zelda U.

If Retro is working on Twilight Princess HD I will... I will... nggggggggghhhhhhh!

Do any of you remember the rumours about a port of Twilight Princess for the N3DS? I think that this HD version of the game is going to end up like it. It will be a Wii port, like the rest, nothing in HD.

I would say EAD since they made The Wind Waker HD, but they are probably working on Zelda U... so Grezzo?

Still won't believe the rumors until actual confirmation though..

EAD 3 sounds most likely.

I would but after I finish with Sims 4.

Bluepoint?? Seriously these guys are the masters of HD... well remasters

Same as The Wind Waker. Not that it matters, as Zelda HD will come until Nov 2016. Plenty of time to develop a decent remake.