It looks pretty new. It seems like a cool and simple utility specifically for making custom arcade games. I skimmed through the videos, and the creator seemed to decently recreate a number of classic games without much effort. From what I can tell, it's free to use, but you will need to pay 10 euros (paypal about $13) for a version that will create an .exe file for your game.
Anyone hear of or use this before?

It might be cool to make a simple arcade game to go with a custom cabinet theme.
http://www.arcadegamestudio.com/Here is a demo video of a commando-esque game he made with it: