Well, I'm wrong. Behold: Meet Death Kappa. From director Haruguchi Tomoo, it's being done completely in the old traditional style. The director himself introduces a little bit about the movie, the sets, and why he's doing it old skool. After watching that I have new respect for the guy, and my hat is totally off to him. (Though given what he was saying and what I based my earlier comments on, I suspect he will not be working for TPC any more.) If it's released in the US (and I'm expecting it will be, since he starts off the clip with "Hello, American monster fans"), I will totally go and see it if for no other reason than to support this man. It's not every day you find someone who is willing to stick with what they love, even when it's no longer in vogue.
Watching the clip I saw "from director Haruguchi Tomoo" and thought "Hey, I know that name. Didn't he direct some Mebius episodes? Yeah, I think he did!" (And then that little voice said, while I was pulling up my favorite Mebius credits reference site, "If you're such a hotshot fan, name an episode he directed." "Uh, I don't know... Didn't he direct a couple of episodes in the beginning? Or... I think he did the last pair of episodes, didn't he? Sheesh, I don't know, like I'd remember that."
He was tokusatsu director for episodes 1, 2, 16, 49 and 50.
I'm amused, surprised, and dismayed that I got it right. Though I forgot ep. 16. How could I do that? That's the Zamusha episode, and it's put together in a really unusual style.