I'm really excited for this game and I saw there's no topic for it yet.
We can share our paintings here and maybe even do a few small contests like in the Pullblox/Pushmo topic.
There is a 3D trailer for this application in the eShop now and it's supposed to be released this year so it's only got a week left 
Sadly I couldn't find the trailer on Youtube but it's better if you watch it in the eShop anyways because it's in 3D.
You'll be able to paint on different layers so your background actually is behind the foreground in 3D.
From what I saw from the video you can have four 3D layers which is plenty in my opinion.
You'll also be able to watch recordings of your and others' images as speed drawing.
Here's the Gallery of the original Colors which was available on the DSi and iPhone. You can create awesome paintings
