I can see where your coming from but
1. He could be doing this to represent more than that one zelda, especially if toon zelda isnt playable in any way. I mean she already has moves that arent even native to that zelda (or any version of zelda at that)
2. Thats not quite that big of a deal, shes not a spirit so logically she isnt going to inhabit the armor, and she has enough mystic power to believe she could enchant one as well. It still very well could be an AT, but we know things in smash dont always have to function like they did in the game they are derived from. Mario's cape has never been used to reflect things, peach has never had an explosive rump bump, and ness's moves arent even native to that character.
Its still very hard to derive much from the one screen we have, so its still up in the air. But i dont think anything can put laid in stone at the moment.