I was very hyped when I heard about a Yume Nikki game starring Eternity Larva, simply because I like YN and Larva, but I didn't reflect further on why Larva is a good match for such a game. Having played the game, the concept makes even more sense to me: Just like Madotsuki is trapped in her repetitive life with only video games as her escape in the waking world, Eternity is trapped in a repetitive and frivolous life as a fairy, with dreams being her only window to something more meaningful. (This is not really me judging the lives of the fairies, just me trying to draw parallels to YN. As in YN, there is no guarantee that breaking the cycles will make Larva happier...)
So the concept is great. How is the game? I'm not sold on the 2D-nature of the dream world, since I don't see how exploration would work. I also think the writing and some of the art (but not all of it) is very in-your-face, compared to YN, but this may be a result of the general lack of content, and not a fundamental problem. (Seeing literal scenes from Eternity's past would feel more meaningful if they were deep in her subconsciousness, and not directly accessible through the hub.)
In short, I'm still hyped for the game, and I hope you'll continue to work on it. Do you have some kind of forum or channel where you discuss development?