If not mistaken, this should be the prototype for the HCM Pro version (judging by the joint of its wrist).
Image from Toysdaily.
What does that look like to you? Does it look like another Gundam's legs bent up into Selavii's huge leg armors? Sure does to me, not to mention the waist armors are also visible. The arms can be transformed from the twin cannons. As a matter of fact, there are splits on the cannon visible, indicating that it might be made up of the shoulder armors and arm units.
Then again, it doesn't explain the huge Gundam head design.
Or maybe it's NOT a head at all. the white "face" may be the round GN Drive as seen from the chest design of the old Gundams, and the red "chin" may turn out to the the pilot cockpit instead.
Nontheless, the first thing that came to my mind after looking at the photo just now was "Siamese Twin" ^^;
On the other hand, more images of Selavii's predecessor, Nadleeh in its upcoming MSIA release:
Late September release, 2,626 Yen (with tax).
Images from Amiami.
Finally, GFF Gundam NT-1 is revealed to be featuring a new bazooka ^^
Has a very strong feel of originality to the one used by RX-78-2.
Image from Toysdaily.