CrypTik
Smash Journeyman
It seem that it is indeed possible. I was messing around with link and I was able to air dodge and cancel it by throwing my bomb. I never heard of it working in melee before so I decided to post it here and let you guys try it out yourselves. It's pretty weird.
Let me know if this has already been discovered.
It also works with peachs turnips. I haven't tested it but I'm going to assume it works with all throwable items. I will be uploading a video very soon.
http://www.youtube.com/watch?v=r6JGpiiMqKM
Edit-This has already been found by ConnorTheKid. I just found his video on youtube.
http://www.youtube.com/watch?v=uzCzjb9H2PA&feature=related
Let me know if this has already been discovered.
It also works with peachs turnips. I haven't tested it but I'm going to assume it works with all throwable items. I will be uploading a video very soon.
http://www.youtube.com/watch?v=r6JGpiiMqKM
Edit-This has already been found by ConnorTheKid. I just found his video on youtube.
http://www.youtube.com/watch?v=uzCzjb9H2PA&feature=related