Mega Bidoof
Smash Hero
A "PIN" can signal a game being made if the company doesn't want to announce it and isn't ready to, but one person who knows it is what people want would like to hint at it.The pin was an acknowledgement of Retro's earlier franchise. How does a PIN signal a game is being made now?
The game clearly isn't in the stage to be revealed to the public, even if it is in development. You can't expect Nintendo to show a game when there is nothing to show.
Reggie went there himself, I mean, he's only the President of NoA, can he not make decisions for the company himself now?
I don't expect Nintendo to show Metroid yet, since there probably isn't much to show. That's why Reggie hinted at it. He technically didn't say anything, so he can't get in trouble for announcing something too early.
He probably can't make decisions for the company as a whole. His position is to be the head of what gets in America and what doesn't. He can't decide for himself he wants to show something new. If he wanted too, he would have to talk to Iwata, and Iwata probably told him to announce Cranky, because dudebroes be lovin' dat Cranky Kong.