This is what I meant by bboosting.note: be careful with the timing if you upb without fire cancelling because if you ledge boost the upb (when you upb as you go off the ledge, you gain horizontal momentum) you will run into pk thunder faster and the angle sends you under the stage unlike brawl
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Tikao,
I don't believe PKT can ledge cancel, just bboost which gains unwanted momentum. It's not even about hat though, it's about how it sets you up for the ledge shooting PKT2. Think of it like Ganon's Flight of Ganon from SSBB, there are other ways of doing it by why do that when there's an easier way? Asode from ease though, it does set this up nicely.
Also, on BF you bounce off the ledge instead of shooting up, which allows you to use another PKT. May or may not be useful, but I try and share any interesting bits.