They have videos on the Players Channel that reflect a few seconds of a kraken attacking a frigate (see the aforementioned sig graphic). They have at least one video on the players channel ( i think the 3rd in the sequence) that a developer shows, and talks briefly about development of the kraken, and shows it sweeping a player off the deck of the ship.

Zeppers Lvl 38
http://pirates.teamofx.us

Yea, i saw that! Hopefully there will be a kraken in the future that we get to like battle or something! That woud be REALLY cool!