I posted this at Telltale's forums, but I'll cross-post this over here, as this is where Mike and Larry are looking at the responses:
On the subject of whether Insecticide would carry enough weight to carry a Kickstarter, Larry Ahern might be enough of a pull for adventure game veterans, as he was the co-project leader of The Curse of Monkey Island (and Mike Levine is a LucasArts veteran). That, and the character designs and backgrounds have a very Grim Fandango/Psychonauts feel to them.
The fact that it's a pure adventure game might lure people out that passed on the first Insecticide too. The kickstarter video will definitely be the main selling point on this. Hopefully the goal amount won't be too high though, they should definitely aim for the amount that Double Fine Adventure was initially looking for, and not aim for Leisure Suit Larry/SpaceVenture/Tex Murphy goals, since I think you are right that they probably won't get the funding that those games did.
It certainly will help that they won't be tarnished by the embarrassing antics of Gamecock this time around. Every time an article was published when Gamecock execs stole the stage during an award, or something equally as immature, it seems Insecticide was always mentioned alongside it, despite Gamecock only being the publishers of the game. That really couldn't have helped sales.