Apologies for the bump, but a slight development related to this has been noticed by Kiske over at the Shenmue Dojo. The same author of the rumored Shenmue HD article, "I love Japanese Games" also wrote an article with the rumor of a Parappa the Rappa and Gitaroo crossover game, which was basically confirmed on Friday with the launch of a website:
Rumor article -
http://www.ricedigital.co.uk/project-rap-rabbit/
Confirmed article -
http://www.ricedigital.co.uk/project-rap-rabbit-confirmed/
Now, whilst we still are no closer to Shenmue HD, this example certainly does bolster the reliability of the author of the original Shenmue HD article, and that his/her source from Altus is indeed legitimate. As to why we haven't had an announcement yet remains unknown, but hopefully we won't have that long to wait!