MK's (and a few others come to mind) Up+B out of shield is a guaranteed punish on Sheik.
The only time I've consistently punished from tilting a shield is dtilting Snake's shield because the instinct to jab or grab out of shield misses as long as you stay crouching.
Ftilt jab and ftilt dsmash can punish late shieldgrabs I suppose.
Pretty sure Sheik can nair Sheik out of shield as a punish.
I usually don't like hitting Falco's shield with a tilt.
The only time I've consistently punished from tilting a shield is dtilting Snake's shield because the instinct to jab or grab out of shield misses as long as you stay crouching.
Ftilt jab and ftilt dsmash can punish late shieldgrabs I suppose.
Pretty sure Sheik can nair Sheik out of shield as a punish.
I usually don't like hitting Falco's shield with a tilt.