Their are certain things you can and cannot say. He walks that line closely, as for his credibility yeah it's good. I'm afraid I can't comment on the Lorax though. It's possible it's been scrapped the darn thing has lived and died several times and had 3 seperate early concept presentations. But I personally have not heard its dead in the water. If i do hear that I'll post it.
The one thing that strikes me as odd though is the timing of this. Was something else just signed and deemed a higher priority?