http://www.chambaragame.com/. I saw this on an internet show the other and was blown away. I'm not a fan of FPS (with swords) games, but have played some of them (not since Doom I & II, though). This game is created for split-screen multi-players sessions.

What had me amazed was that the designers (a group of UCLA students) designed the game around split screen gaming. They are working on being able to close your "game eye" to hide your position from other players. The 2 color scheme means that on "your" color, you're invisible. The buildings and settings help with this, but there may be a path in the other color that shows you

The Developers were inspired by Genndy Tartakovsky's Samurai Jack. You play a ninja with a sword! The art style is similar to http://static.comicvine.com/uploads/original/10/106762/3656115-5520231396-samur.jpg, too.

Gameplay https://www.youtube.com/watch?v=RaQgZKJ4kpM from KSalue on YouTube.

Any thoughts? Seen it before? Does it look fun? Just a gimmick?

I would probably get dizzy playing the game. When everything look the same, it nauseates me. I basically become disoriented, happened to me in early games like Doom. The stealth portion sounds exciting though.

PS. Maybe add some paint gun in the mix with more defined levels?

Meh, https://www.youtube.com/watch?v=7vi_JBJ5yoE has fancier gimmick

(Some actual gameplay: https://www.youtube.com/watch?v=W7qY7s1tCtU).