Thanks to CD-i member Roberth Anthony Martinez Rivero, some interesting CD-i information popped up. He showed us a scan of Joystick magazine issue 64, published in October 1995. In this issue, the Zelda-inspired game 'Witchwood' was previewed. Witchwood is a cancelled action adventure game that was in development from 1994 to 1996 by Team 17, the studio best known for the Worms series.
The game would have been published by Ocean for Amiga and PC in 1994, but in 1995 moved to PC, Playstation, Saturn, Jaguar and CD-i. While working on Witchwood, Team 17 was also developing Speris Legacy; another action adventure similar to the Legend of Zelda games that was released on Amiga in 1996.
The reason for the project’s termination is as of yet unknown. One possibility is that Team 17’s publishing partner, Ocean, elected to drop the game’s funding in light of Speris’ apparently lacklustre sales; rather than risk making another loss. But of course it's interesting to note that CD-i was part of their development plan. The game was eventually never released, but some PC beta material popped up in 2012.
[Thanks, Roberth Anthony Martinez Rivero, Unseen64, BetaArchive Forum]