Not /quite/ true
Just to fill in a little detail with this, it’s true this isn’t a recording from inside the game. It is, however, using the game engine, rather than something else to do all the fancy graphics.
CCP have a program they call Jessica, which is a toolkit to script actions in their engine. So all the visual effects you see, are what you could see in game.
While it’s not out quite yet, I’d expect that CCP will be releasing a video about the creation of the trailer, within the next week or so, on the eveonline youtube channel