You mean the whip? The whip looks like it works fine. I don't know about fishing though, though that would be a nice touch to the game!
The sword-play looks fascinating! I'm certain the sword was lagging because of the interference even on the show floor because so many people are using...
Well, probably for controlling items we haven't seen. And maybe to control that boulder Link is on in the trailer. It seems logical that it will be mostly used for Link's sword and items to me.