I saw this commercial last Sunday and posted a question over on mustangsource (which is presently down). It first played on Fox News Channel and then again during the Rockingham race which was on regular Fox. The commercial is part of the Trilogy video with cutaways to the blue oval logo with the message flashing at you one word at a time. I have seen one other reference to it on a board (this one or Blue Oval?) and that person thought that it was running because the Cleveland Auto Show starts today. Both of us are in northeast Ohio and I was not sure if this was playing anywhere else.
The conclusion over on mustangsource is that the new ad campaign is probably starting today. Apparently, when they introduced the car in '64, Ford used this "The Unexpected" theme. It is a retro-styled car, so why not use a retro-styled ad campaign?
Also, there was some talk about Bill Ford attending a black tie dinner tonight for the Oscars and something about a special tribute to Ford and/or the Mustang for being in so many films over the years. The ad campaign makes more sense than the Oscar thing, but why they would choose February 28th is a mystery. If the ad campaign theory is right, then we saw a commercial for an upcoming commercial.