Update: thanks to Tanukitsune we found out that this game was going to be a port of an Amiga/Atari ST game that was released. You can see a video from the Amiga version below!
Video Kid is a cancelled side-scrolling shoot ’em up that was in development by Kemco for the Super Nintendo / Super Famicom. The player would have take the role of a flying thing (in one screenshot it seems a robotic rat, in the other 2 it looks like.. something else) to shoot down enemies through various fantasy scenarios, like a magic forest, the wild west or a dark cemetery. Scans from EGM and Super Power magazine #12.
Thanks to Celine and RayVM for the contributions!
Video (from the Amiga version):