Not sure if any of you have seen this one yet, but it appears to be an almost "game warping" type of glitch. From what the video shows, you are literally jumping into the start up screen to play around in it. It looks very interesting and I just might try it! Take a look:
http://www.youtube.com/watch?feature=player_embedded&v=s5...

It's an old finding, they called it Back in Time. The Wind Waker has it too since it's based on the same engine, it was first found in Twilight Princess. Twilight Princess has better utility with it.

skyward sword also has something like this to.