It definitely doesn't look like Twilight Princess Link. Too bright. I know a lot of people don't like how dimly colored TP is, but if it were to lose its art style, it just wouldn't be the same game anymore.
However, I don't think it really matches Zelda U link either. Remember that Zelda U teaser we saw where everyone thought Link was a girl for some reason? The art style was a bit different then what we're seeing in this promotional art as well.
I don't see any reason why they couldn't of made a new Link render just for generic promotional reasons. Unlike Mario, Link doesn't look exactly the same in every game, so they can't always just use the render from the most recent Zelda game to represent the entire franchise. That's probably why they used the TP versions of Link, Ganondorf, and Zelda in Smash; Skyward Sword Zelda isn't a princess and Ganondorf doesn't even appear in SS. Besides, Nintendo has been trying to promote their IPs more, haven't they? That's the reason for amiibo and their partnership with Universal Studios, afterall. Heck, speaking of amiibo, that might be what they're planning to make the Link amiibo look like when they finally get around to doing a Zelda line of amiibo.