The latest gameplay video shows a full level being played by five people together.
The fifth player has unique controls using the Wii U GamePad's touchscreen to use the flying character Murphy.
Murphy can stun enemies and interact with the environment to open new paths and help the other players in a variety of ways.
The game was originally planned as a launch title for the Wii U, but Ubisoft recently pushed its release back to early 2013.
Ubisoft will continue to release a handful of launch titles for the platform, including Zombi U, Just Dance 4, Assassin's Creed 3 and Rabbids Land.
The Nintendo Wii U launches next month, arriving in North America on November 18 and November 30 in Europe.
Watch a trailer for Rayman Legends below: