People seriously need to stop pointing at the horns and mohawk like they mean something. Like the Fighting Polygons and Wire Frames before them, the only important thing for the Alloys is that they have the same skeleton as the characters they're based on so they can get into the right poses for the hitboxes of their attacks. Frills like horns and mohawks do not alter the hitboxes, and can be added or removed at a whim without altering how the character works. They're there for aesthetic purposes, nothing more. They don't represent anything (except maybe these Meteos figures people are bringing up).
I can see that Blue's falling animation is a little bit more like Peach than Zelda, but she can't possibly be Peach. Just think about what that would entail. Floating around, pulling out sports equipment, doing the down-smash with no dress (that would just look freaky), and bashing people over the head with a crown that doesn't exist. Not really the behavior one would expect from a polygon/wireframe/alloy. Besides, for all we know, Zelda's falling animation could have been tweaked slightly to look like that for Brawl. She got more of a model change than most of the other characters, after all.