Unseen64 has an brief article this particular entry of the series that was planned for PlayStation but was unfortunately canceled in early 1996. Not a whole lot is known about it, let alone why it was canceled, but judging from the V-Jump 1995 footage, TwinBee Miracle was to be an quirky 2D RPG by Konami based on its top-scrolling shooter roots with colorful characters to meet and some cartoony worlds to explore. It does look like an RPG I would have played.
Its always too bad to see games that seem to have great potential get canceled. Not to be too off-topic but the greatest gaming tragedy I can think of off the top of my head is Star Fox 2, the sequel to the SNES Super FX megahit of the same name. Thankfully, there are prototypes of that game out in the wild internet for everyone to play and see for themselves the marvel that game is. I'm glad to have made some videos out of it too. Hopefully, we'll see a build of Miracle in the future.