Toon Link's projectiles are highly power shieldable. Only thing that is sometimes a momentum breaker is a charged arrow, but it's really not enough. Bombs you can just shield and catch with an aerial as they won't hurt you after they've made contact with your shield.
maybe you have amazing reflexes, but pwersheilding his every attack is not realistic. even when we DO powersheild, it doesn't actually hurt toon link at all. it just prevents us from being hurt by them. since toonie normally follows up his projectiles, you miss one powershield and he's probably going to grab you during sheild stun.
Normally, however, toon links are smart. they'll poke with zair which is unpunishable by zelda, even powersheilded, since it has greater range then anything she can retaliate with and has zero landing lag and then he'll throw a projectile if you TRY to retaliate. basically toon link can poke all day and stop zelda's every coneterattack with projectiles.
nayru's is nearly usesless for turning the projectiles against toonies unless you have near clairvoyant prediction abilites and normally he'll just punish your cooldown. basically the best way to deal with his projectiles is to ALWAYS pay careful attention to his habits, to ALWAYS know the properties of each projectile and to take careful stock of the current situation. Normally you have multiple options for dealing with any projectile he has, but some are going to be better in a given situation, and toonie normally has a resoponse for any response you have if YOU are predictable.
people act as if toonies blindly spam projectiles so you can just sit there and sheild them all day until he decides to "fight for real" well the problem is, he pulls them out WHEN he fights for real. if your defense against toonie is to try to powersheild everything, then it should be obvious we're going to get ***** in this matchup. I mean, that essentially means "we can't try to counterattack him. We have to spend the entire match rooted in place trying to block what he throws at us." The best you can do in that case is break even.
Zelda' has one defense against toonie's projectile game "Luigi's Mansion" Anything else we do is situational. Powersheilding is not how you "deal" with his projectile game. if you're doing that, then toon link has already won because he's forced you too abandon attempts to get agressive with him. It's not as tangible as the taking damage from his projectile game, but forcing you to behave like a cornered weakling is JUST as hurtful to you as taking damage.
Zelda has NEVER delt well with spam. it's one of her greatest weaknesses and Toonie has perhaps the most versitile projectile game in Brawl. Zelda has NO reliable counter to his projectile game that is viable besides CPing Luigi's mansion. his projectile game will wear us down and he'll kill us. it's that simple. He can punish about any attack we make with a projectile. he's almost invincible to us while he's at mid range. You can say we have slightly better killing power in the matchup, but when he can deal 100 damage in the time it takes us to deal 20, it really doesn't matter.
Toonies projectile game destroys us. we have to deal with every projectile on a case by case basis and that just KILLS us because it's normally not a "win or lose" choice, but rather a "lose or break-even" choice. Sorry to be so much of a downer. but I think it's LUDICROUS that we have toonie listed as a 50:50 matchup. I agree with Quivo (in our matchup thread) that it's no BETTER for us than 65:35 his advantage because zelda simply can't do anything against his projectile spam besides block it... which only really delays things. A good toon link will probably be the hardest fight that you'll ever have to put up with as a zelda.... so good luck with that.