The person that posted the Youtube video sent me a private message.
They confirmed that there wasn't any platforming in the part of the game they were able to play (no surprise, but then again the subweapon item button wasn't available either).
They said that being able to crack the whip was like being Simon. Amen to that.
Finally, they said that the Konami rep winked at the question about a Wii port while giving the standard "no comment," but said they had thought about it.
(I'll copy-paste the original message if I get permission to do that.)