Hmm, it feels a lot like Melee from what I saw in that stream. A little too much (Wavedashing, Dash Dancing, Percentiles, etc...).
I'm interested to see how things will progress. Also, you mentioned you had problems with Shielding, why not just make it regular blocking like in SF, GG, etc...? I think it could add more options, especially for Mix ups and cross ups, more so that you'd have with the shield.
Also, how are you gonna have the attack inputs? For specials and stuff too.
Are you gonna do it like in Smash with two attack buttons that have 4 Directional inputs, with a standard set up for every character? Or will you play around with it a little and make it more diverse and have different special inputs for different characters?
Also, will you be adding Smash Attacks like in Smash, or will you add an extra attack button?
Oh, and the name, is that temporary? It's been bugging me for the longest time, but... It does nothing but remind me of that crappy anime from last year, please tell me you plan on changing it...