I'm pretty sure that's not the case. Chances are this was just something done on the cheap to get some interest in the movie or if it is it's going to only be a part of the movie.
Seriously, it looked cool as shit, but they didn't need to put JJ Abrams up there. You could tell from the trailer and high suspense, yet nothing informational at all about it that it was from him
yes it did look badazz. Hopefully the entire movie will not be on a handheld camera-perspective. That would really tone down the cinematic and CGI effects, not to mention the sound mixing.
unless ofcourse they're rolling around with HDTV camcorders....