No no. You can tell it's the phone version thanks to the texture work, among other things.
Honestly, they were probably capturing the video from the dev kit or something. It definitely wasn't from the target platform. I'm not sure how well versed people here are about these things, but this happens fairly frequently in the gaming world. Just look here:
http://www.youtube.com/watch?v=1Q_W0Cul7-U
That trailer? Yeah. It's taken from the PSP game... running on the PC dev kit. The game neither looks, nor runs, nearly as smooth as the video makes it out to be. Again, this happens plenty.
Definitely why I love Microsoft for enforcing demos. It makes it so much easier to have an informed purchasing opinion. Otherwise you get situations like these, where what you might have believed you were paying for is not actually what you got.
Hopefully we'll get some answers from the devs over whether or not this is patchable when Eastx, or someone else, interviews them.