Cheezey Bites
Slime Knight
It's more of that I haven't seen enough for me to be convinced that it is fake.
So far we've got a few pixel, color, and font errors. That isn't enough for me, especially since all of these mistakes, if they were photoshopped by the same person, should not have happened, there is no reason you would change the font/color/thickness of something when you already have the template of what it should be. Admittedly, that should also be the case if this is legitimate, as there is no reason a developer would mess up as they should have a template for what this is, unless they added in Little Mac to the tourney mode from an earlier build and forgot to change the font, as he is the only one that stays true to what the Direct's font was. That seems more likely to me then a photoshop error, since I work as a game tester, things like that happen all the time. There are plenty of things like this that the developers forget to change between builds, and since they are such tiny details, they often get overlooked to fix the more serious issues.
Large scale fakes like these are often for bragging rights and often times the clean image is used as proof you set it. It may not be the original poster who made the later images.
This can be explained by it being the Demo, in all likelihood the game will be set to timed and free-for-all only.2 Things are not there when they are supposed to be.
There is no visible button that switches from Team mode to Free for all Mode. And that there is no bar or text to show what game mode you are currently on, like Stock or Time.