2nd in command in here- Sorry for late reply.
The ACTUAL official Spyro Movie was cancelled altogether some time last year. This was because they were rebooting the franchise in the form of Skylanders.
This, on the other hand, is a proper fan film. Not just a bunch of thrown together cutscenes, it will be animated in 3D. Although, for the meantime, both the 'director' and I are busy with work, so we haven't made very much progress yet.
Hope that clears up a few things for you