Saw this posted on funwithbonus (thanks Steve!):
http://funwithbonus.com/timeshock-ultra-combo/
The last video pretty clearly shows the virtual table running alongside a P3-ROC development setup. These things seem to be everywhere these days!
Wonder if they're planning on going with a normal playfield or a screen? That looks like a ton of inserts and quite a few of them are non-standard shapes.