((If the following is old news, plz don't kill me. I didn't see this anywhere on the boards.))
If MK connects with the initial hit of the Shuttle Loop, then it has invincibility but only if you connect with it.
Slow the game down and watch MK do his up-b. Nothing will look different from the norm. However, if you do the move and hit an opponent then MK flashes white for a little bit (invincibility frames, just like when you first grab the ledge). My friend and I tried lots of moves with lots of different characters to try and trade hits w/ MK's up-b, but MK won everytime without receiving any damage.
All in all, MK's up-b priority can't be beat on the initial start-up of the move.
If MK connects with the initial hit of the Shuttle Loop, then it has invincibility but only if you connect with it.
Slow the game down and watch MK do his up-b. Nothing will look different from the norm. However, if you do the move and hit an opponent then MK flashes white for a little bit (invincibility frames, just like when you first grab the ledge). My friend and I tried lots of moves with lots of different characters to try and trade hits w/ MK's up-b, but MK won everytime without receiving any damage.
All in all, MK's up-b priority can't be beat on the initial start-up of the move.