Originally posted by Flying Mullet
It looks like it's just a ramdon shadow made to look intimidating. Most of the ads for Final Fantasy III(VI) in NOrth America for it's SNES release included Mog just hanging out while a gang of monsters were about to get him (which of course he reduced to ashes), so I imagine that this is a continuation or culmination of that theme.
I always thought he was a boss of sorts, and was "fireing" the monsters. Awesome commercial.