Shadsie, I hate to burst your bubble, but that video and the website are dated to later 2006 and hasn't even been updated. I'm guessing the project has been cancelled sadly. If only Nintendo had TV shows then it could get even more publicity for it's characters.
So here is a question for you...
The idea is very weak on it's own. Zelda itself is not a big enough fanbase to work with the cost of a theme park of that size. However, a Nintendo theme park could be different if properly advertised and placed. The many Nitendo fans and Nitendo's massive family appeal could totally work as a...