I didn't realize that such existed! I found this picture of the box art and label art. Is that what you are referring to, are there other pictures?
This looks like non launch artwork, so this would be Tramiel. Perhaps they were considering releasing it with the XEGS release. Since the box has no screenshots, it's hard to see how much programming, if any, had been done.
BTW, here's all the games that believe to have been announced, but little to nothing has been found.
NEVER RELEASED
ATARI
Crystal Castles CX7817
Elevator Action CX78??
Electrocop CX7874 (Graphics have been found)
Gauntlet CX78??
Gremlins CX78??
Lode Runner CX7833
This screenshot may have come from a prototype
Jr. Pac-Man CX7813
Millipede CX7812
Moon Patrol CX7818
Road Riot 4WD CX7894
Sarge CX7830
Sky Fox CX7825
Screen shot from system box
Stargate CX7819
Steel Talons CX7895
Tempest CX78??
The Eidilon CX78??
Toki CX7895 (Working Prototype has been found and being worked on to release)
Track & Field CX7814
White Water Madness CX7864
FROGGO
Night of the Ninja
Pyromania
Scorpion Squad
UFO
TELEGAMES
Quest for Quintana Roo