I had tried it out. It's got some really nice art, but also it's very buggy. Most of them are just animation glitches, but there are weird physics related glitches at walls, and sometimes you phase through objects. I also would have preferred if the button to fly wasn't a separate button. I think these little issues could be fixed though if the creator still had the game files. I also had issues with input lag where Rayman wouldn't turn around or jump properly, but I don't know if my computer was just being weird in that case. As I said though, nice artwork.
Wow, that's so beautiful! I have to say, when something's that beautiful I'm kinda conditioned to think it's still art rather than playable, and what Steo said seems to justify that suspicion. I should probably try it all the same!