It's the Parallax Hydra
I ran across this while looking for microprocessors at work. Parallax is mainly known for their Basic Stamps and Robotics kits but now it seems like they've decided to make a game console kit using their new multi-processor "propellor" chip.
It has eight 32-bit processors but from what I've seen from the screenshots the best it approaches is what I'd consider TG-16 graphics. A lot look more like 2600 games. It might be capable of more since those are probally just sample demo games.
Pretty neat concept but at $199.95 though...I think I'll pass on this one.
If it came out 15 years ago and I had the cash I'd probally be all over it.
Here's a link