Balls of light really isn't most of what Palutena's attacks are about. They seem more like lasers, or concentrated blasts, to me. Not to certain where you're even getting teleportation from, as she never did that at all.
Regardless, here's a
high quality video of her first boss fight, along with
another fight. Between these two videos, I'd say that well sums up her fighting style. This is, of coruse, assuming she does not dip into
the powers available during gameplay, or even classical references (like the
Protective Crystal).
Personaly, I'm expecting her to be a punishment-heavy charater that uses stage control and projectiles to stall and attack, though Palutena's probably flexible enough to fit any defensive projectile-based move set. For example, someone else said:
"I personally expect Palutena to be almost entirely a Projectile user. Focused on zoning and keeping the target away from her. She would have few close-range moves except for that counter that she has, which would have above average knockback so she could get back into her zoning mode."
That enough for you?