BTW, I saw the first trailer Saturday, but didn't have the time to reply. My memory may be fuzzy on some bits. I haven't yet had chanc to watch the trailer X has just posted - my net has enougn problems loading the forums, nvm youtube. XD
...The trailer looks about as much as I expected it would when I saw the thread title. If we're to go with the assumption that this is for real - and that those are the finished visual effects - then I forsee a couple of possible 'plots'. Both are based on the fact that the authorities seem unprepared to deal with the situation (apart from treating it as a terrorist attack).
1) The Pokemon reality is converging with an Earth not too disimilar from our own. The PKMN continuity used would be that from the anime, not the games or manga, based a few years after the current storyline. This last observation is the fact that "Ash" (or, as I think of him, the Ash analogue) looks to being played by a twenty-something for late-teens actor.
2) Pokemon are just appearing in the reality shown in the trailer. If this is the case, then I would say they're being treated more like Digimon, as they look to be data entities (although, this could just be visual effects failure). Of course, something similar already exists in the PKMN anime: in the Mastermind of the Mirage Pokemon special, the Mirage Pokemon of the title are actually "hard light" holograms, generated by a computer system. Also, the Mirage Pokemon had the hazy "aura" seen around some of the Pokemon in the trailer (although, again, this might be visual effects failure).
Let's be honest: if the film is real, it'll be awful. The only question is if it'll be cheesy enough to be funny, too.