I haven't played the game but got the soundtrack with the Humble Bundle and have really been loving it. I might have to check out the game just to see how it fits in there.
I don't mind old school art styles, but there is something about this particular art style that has put me off a bit. It's probably the muted colors. But it sounds like it's worth checking out, so I'll give it a go.
You might try Botanicula if you haven't. It's another game that the music really enhances and compliments the gameplay in a special way. Botanicula reminds me a bit of Locoroco in musical style. It has such a charm to it.