I'm about 99% certain that the site is a hoax or a misleading fan-site. The domain name is registered through GoDaddy for one, (which definitely seems unlikely for an official site), and Nintendo isn't scheduled for a Keynote speech at GDC this year. The big three typically only make announcements like that during their keynote, especially one as major as that.
As far as the rest of the discussion in this topic regarding a Wii-specific Zelda game, I'm pretty sure there's something happening with that at least in the planning stages. I'm too lazy to check for sources right now, but I think about a half-year ago there were a few interviews that mention a Wii-specific Zelda on the drawing boards that would redefine the way we play the games.
Nintendo obviously needs some more heavy-hitter games on the Wii to appeal to the "hardcore" gamers. Galaxy is still pretty new, Retro Studios has moved on from Metroid, Brawl and Mario Kart are coming out soon, and Nintendo has never been known for introducing new IPs on a frequent basis. It's only logical that they're working on a new Zelda in some form, especially considering that TP wasn't even intended as a Wii game until the very end of development. I wouldn't be surprised at all if they announced a new title at E3 or SpaceWorld.
If we don't hear about it this year we will in 2009, but that's pushing it. If nothing else, I'm pretty confident that Nintendo will announce and show off a current-gen Kid Icarus title, (with his inclusion in Brawl as well as the current level of demand because of it).