Uh what do you mean what's in his mouth? For now I can assume you are referring to what is inside his armor. Is Armaggon himself. He is literally an alien shark wearing a shark armor.
It does look like it, but is the mouth of his armor. His armor is able to transform into a shark, which is sort of his battle mode. Also the mouth does close when he is in his shark mode. When is not, it sort of looks like a hood.
Yes he is an alien shark and he is a wearing an armor that looks like a shark.