That's some footage from Vortex, a SuperFX title from Argonaut. For a long time now, people have been clinging to a rumor that Argonaut was making a Transformers game for SNES, but when the deal fell through, they took the game and turned it into Vortex. Now Vortex programmer Michael Wong-Powell has stepped forward to clear up the rumor.
There was actually one in development, but it was cancelled. When I first talked to [Argonaut boss] Jez San about the chip they were developing it was one of the games on the cards. I originally thought of moulding my ideas into the Transformers game, but Jez wanted a few games out on Super FX, so kept my game separate.