Sakruai is known for looking out for all of the details of a game and character. Cloud charging up a Limit Break, would be a completely misrepresentation of him and Final Fantasy 7. I can't see him making such a big mistake.I'm guessing that Finishing Touch only happens when Limit is fully charged (so like, Down B charges Limit, then when full uses Finishing Touch). Rest are obviously enhancements.
You physically see him charging it though...it's not like Little Mac where you couldn't see what he was doing in his trailer, you flat out see Cloud charging it.
In my opinion Limit Breaks Animation will be triggered in some other way (like standing still after getting some damage).
I can be totally wrong, since it really looks like Cloud charges his bar, but it would be really strange in my opinion.