Hey Jay,
I don't think Majesco developed it, since Monkeystone is a handheld development studio.
So it would be kind of weird to outsource the corework of a company

Majesco however is also a publisher, and they might have acted that way in this case.
however, as you know, I used to run a very populair gba-news site. And I can't remember
posting anything about it except some screenshots and a little movie.
So that would indicate only a beta version is made, but that's just my 2 cents.