TSL looks quite well done -- colorful, playful, and true to theme. Of course, the theme isn't particularly sophisticated, but if HKDL had to get a Toy Story-themed area, I'm glad that the execution turned out well. It definitely looks like a step up from its counterpart in Paris.
I like the giant Rex at the land's other entrance -- which I'm assuming leads to Mystic Point. I would love to see some sort of themed bookend on the Mystic Point side when that land opens -- like maybe a realistic dinosaur skeleton or carving of a dinosaur-esque dragon, as part of the "Garden of Wonders."
(Speaking of which, I'm very excited to see more details about Mystic Point, and especially about the Adventurers Club there. In fact, these days I find I'm much more excited about what's being built in the non-U.S. parks than what's underway at DL and WDW...)
BTW, the HKDL website has pictures of some of the merchandise. Most of it is pretty run-of-the-mill (Green Army Men, Bucket of Monkeys, etc.), but I really want one of those Slinky Dog neck pillows...