Reference

Zelda Fan Game Central
http://www.zfgc.com/forum/

Ocarina of time: 2D - RC1 (Release Candidate 1) Beta - Release will be soon - The Awful Forums
http://forums.somethingawful.com/showthread.php?threadid=2119000

via

GIGAZINE - 「ゼルダの伝説 時のオカリナ」を2Dで再現したゲームを開発中
http://gigazine.net/index.php?/news/comments/20061229_zelda_ocarina/