My hunch is that it's probably a comp/teaser but I dunno. It's The Smurfs. It seems pretty well-targeted at the movie's intended audience of little kids. Bright, fun, slightly sparkly... unthreatening with a touch of tagging-style typography, suggesting that the movie is going to have some song and dance numbers. Relatively low-budget.
OK, so it's spack-filled with Photoshop fx, but my real criticism is that the letter-forms are hard-edged where I would have expected a bit more curvature, roundedness and bounce to them. Apparently the movie is going to be in 3D so maybe that's why they didn't use something flatter in appearance.
I generally like Pixar's logo work for their movie marketing. The one for Up is perfect; simple and evocative of the movie's subject, reproduces on virtually any media at almost any size, positive or reversed.