This game has been Greenlit by the Community!

The community has shown their interest in this game. Valve has reached out to this developer to start moving things toward release on Steam.

MANOS: The Hands of Fate
Jackey Raye Neyman (from the original movie) plays MANOS
February 9, 2013 - samfzgames

http://www.youtube.com/watch?v=Vu450ijWPCk

Those of you confused about whether or not this is legit, and for those of you worrying about difficulty, should have your fears laid to rest by this video, in which JAckey Raye Neyman, who played little Debbie in the original movie, participates in a Let's Play.