Heard about this on release but I didn't feel like logging into nico to check it out at the time. Looks pretty cool if not stupidly hard. Not that I'm super-awesome with danmaku anyway, but the 3d element looks really mind-bending to me. Might give it a try sometime if I get bored or something.
Also a little off-topic, but it's bugging me, what's that song at 1:01? I want to think it's from a fighter but I'm not sure.
EDIT: Nevermind, figured it out, GFW Extra. Explains a lot, I never played that game much.