Alright, me and Cape feel Ivy is nearing perfection right now, so I'm going to post her current modifications and compare to some newer ones we've tried.
Current Modifications:
-Ivysaur razorleaf 1.25x
-Ivysaur Utilt: Comes out 1.3x faster
-Ivysaur upB gives a bigger hop
-Ivysaur standing grab now has 1.2x wind-down
-Ivysaur dair 2x after frame 12
-Ivysaur downsmash 16KBg from 80, 70 BKB from 40, 270 angle from special 20
-Ivysaur dair sourspot 80 degrees from 50
-Ivysaur Dash attack angle 100 from 70
-Ivysaur Bair: All hits do 5 damage instead of 2
-Ivysaur Uair: minus 2 damage, plus 2 base
-Ivysaur Bullet Seed (both hitboxes) KBG 60 from 40, BKB 15 from 10
New Modifications:
35% ALR
1F000018 40555555
Razor Leaf Ends Frame 28 Instead of Frame 50 (6x speed after frame 22)
1F000113 3FA00000
Jab and jab combo at 1.2x speed
1F000024 3F999999
Bair second hits frame 9-10 instead of 13-14
1F0B8064 3F800000
1F078064 40000000
F tilt last hitbox (0 angle, 40 base from 20)
1F026414 11169027
02642811 00000000
FFFFFFFF 3F800000
U-tilt (1.2x size)
1F075A3C 00058028
075A3C00 00580000
FFFFFFFF 3F999999
1F076432 00058028
07643200 00580000
FFFFFFFF 3F999999
Jabs (40 degrees)
1F036400 1101E024
03640011 00280000
FFFFFFFF 3F800000
1F02320A 11055024
02320A11 00280000
FFFFFFFF 3F800000
1F021414 1101E025
02141411 00280000
FFFFFFFF 3F800000
1F020014 1101E025
02001411 00280000
FFFFFFFF 3F800000
1F011414 1101E025
01141411 00280000
FFFFFFFF 3F800000
1F010014 1101E025
01001411 00280000
FFFFFFFF 3F800000
My opinions: New leaf is great. It fulfills most the purposes the old leaf had but isn't so spammable. Sets up for aerials up-close, and has a few other versatile chase options for the meaty projectile it is.
I haven't found many uses for the sped up Utilt. With ALR this already combo'd pretty well after Nair, and its hardly viable as an anti-air. The 1.2x size would help in that regard, but I don't think its a necessary change.
I don't feel the Bair change to be that helpful. Also, in conjunction with the speed up it could be a concern, honestly though there are just other ways I'd like to help Ivy.
From the new modifications the ones I prioritize and support the most are:
-35% ALR
As a floaty character with no momentum, I feel the lagginess of her best aerials really holds her back. 35% ALR would shave about 4 frames off Uair, and 3 off Fair, which are the ones that really matter. She honestly gets punished harder then any fast faller does, so I don't see why she doesn't deserve less punishable aerials as well. Unlike other characters with punishable aerials (Aka heavies) her aerial game isn't exactly fast or punishing, and while her range is decent she won't be poking through much and utility is limited on moves that actually do have decent priority.
After all, her Bair has 31 frames of lag in the air, and being able to Uair after Bair to catch shielding, rolling people or techchase/mindgame was really helpful. Fair became a useful move, and this really landed her a lot of Up-B opportunities. Kills pretty well itself too.
-Razor Leaf 6x speedup after frame 22
I never saw this as a spammable projectile simply for the fact its so easy to break and shrug off, but with this speed up there becomes a reward for using it. Like I said up there, I love it even more then the 1.5x leaf.
Cape seems to like the Ftilt change, sets up for techchases. He also likes the 10 damage bair. Above two additions are really what I prioritize the most, but I'm not counting other modifications out. I'll wait for him to give his thoughts, his gameplan is probably slightly different.