James Goddard, CEO of Crunchtime Games, who have made the upcoming XBLA title 'Shred Nebula', has come out and discussed what the hubbub was all about late last week, when the game was announced for release:

"I am extremely disappointed to report that Shred Nebula is not launching tomorrow on July 16, 2008 on Xbox LIVE Arcade. Shred Nebula originally had a release date in late Q3, but last Friday we were given us the option to take a suddenly open slot for 7/16/08 and we took accepted it... scrambled to start announcing the date... we were later told that unfortunately this date turned out to not be available.

Our actual release date is still confirmed for late Q3 2008. "

However the game is completely done, and waiting for release. They're just waiting for a new slot. To help ease the pain they've released the very first video of the game in action. Check it out above!

Source: James Goddard Blog