Dont know why they'd g for that instead of Toriko, and unfortunate that it didnt end up being Sword Art Online, guess that will go to Neon Alley...
For one, neither of them are long enough. I'm willing to bet Toonami is setting up for a Bleach replacement. They need a long running show they can rely on week to week to grab ratings. Toriko is just now getting its dub done now. No way Funimation could get far ahead enough for a weekly show.
Man, SAO on toonami would be hilarious. It'd be worth it to see the toonami-gaf thread just devolve into madness. Still hope they end up getting E7:AO for the same reason.