Chronos Twins, Time Hollow is a game about a heroic cat who wakes up high school students from scary dreams. Welll, not really-- that's just our favorite part of the trailer (the green button on the website). From what we can tell, Konami's Time Hollow is actually a game about a high school student who, using a magic pen, goes back in time to fix tragedies that have affected his life, including the loss of his parents in a house fire.
The game involves using the magic time-travel pen to investigate areas across time: as the IGN preview puts it, you can "cut through the present day to look at what the same area was like at times gone by." From the two seconds or so of in-game video buried in the trailer, it appears to be a 2D graphical text adventure, with hand-drawn environments to investigate.