Yeah, but his standard moveset is already covered up by his spear. B neutral should be the most iconic move for the character because it's the move that Kirby copies (except Link who has the bow, and that sucks... why Kirby would have his sword ability hat, and use a bow instead when copying Link who is a swordman?!?). The spear is not that iconic for Bandana dee... yes it's part of the character's look but in fact he used the spear only once (in KRTD). And both Luigi and Pikachu uses body attacks as special moves, despite both of them having lot of moveset potential (in my opinion, Luigi's is almost completely unused). The only problem with this is that it's strange having a move that launches you forward as B neutral, it would have been more suited for B forward, but spear throwing already covers that move. Unlike you invert them, then Kirby would copy spear throw... don't know if fits.
He attacks you jumping at you. I think that's one of his signature moves. It should be adapted to be more powerful and to launch more forward, but I think it's fine as special move. Dee is that kind of character that would work with a body attack, in my opinion (maybe instead of jumping, more like tripping at you doing damage, kinda like Mario in Mario 64 doing jump+forward+attack);
Maybe it's not a cool move, but it's iconic for the character (anyway I think it would be a funny move).
Anyway I'd avoid giving him a parasol, he never used one, it would be forced.
slighty off topic (not even that much): wouldn't be cool if they made a remake of Kirby 64 on 3DS? It would both re-introduce Adeleine in the main cast, and at the same time, that generic Waddle Dee should be replaced with Bandana Dee, so he would finally get a full role as main character that's not just being playable for the sake of it.
They should make the gameplay a bit faster as well, and maybe give some more moves to each ability; extra modes where you can use all the main characters and some extra levels should be in as well.