Intro video released giving some detail on the setting of the game.

We would also like to announce we are looking for play testers for our alpha build! Preferably players experienced with the indie games scene and a large variety of platform games. Along with finding random bugs, we hope to test the usability of the game and the difficultly for the average player.

Currently we are in the process of approaching Microsoft about getting Capsized on Xbox Live Arcade, which is our main platform/marketplace goal as an exclusive. If Microsoft is not able to we would most likely search for a 3rd party publisher.
Nothing is final yet or even given the green light, so it’s possible we would release Capsized on a PC service like Steam or Direct2Drive as an alternative to Xbox entirely. At the moment we are just focusing on getting the game ready for both the IndieCade competition and Pax10.