I personally don't see much of a point in giving Ivysaur a better recovery when she doesn't have much to abuse it with. What I mean by that is that Ivysaur's offstage game isn't very hot to begin with, so giving it a better recovery (as per the suggestions in this thread) won't really change much. Giving Ivysaur better aerial mobility and a couple of buffs to it already solid arsenal (a higher "hop" when using and more mobility after Vine Whip for example) could potentially fix her recovery problem; it would also complement Ivysaur's fairly heavy weight, emphasizing on good DI so Ivysaur won't be forced to use its Up B. Another buff to Ivy's recovery that doesn't involve messing around with her specials could be simply replacing her Bair with another bulb attack similar to ROB's vBrawl Bair (correct me if he still has it, as I haven't seen any recent vids of ROB). Said move would push Ivysaur far enough that it could work as a neat recovery mix-up. With that in mind, would it be a viable idea to place a hitbox on Ivy during its Uair? It makes logical sense; I mean, Ivysaur IS propelling itself downward using an explosion that was created on its back.
Anyway, its stage game is what needs attention right now, as even the B+ build felt pretty sluggish (just IMO). To give a better clue of what I'm talking about - making Ivy's dash speed faster, for example, would help it get across the stage faster (it's also backed by Ivysaur being quadrupedal), not only giving it a better reason to use Razor Leaf defensively, but also opening it up to more combo options. Er, speaking of which, I loved the aforementioned idea of CH Razor Leaf as the projectile itself slows down, but I personally think that Razor Leaf should have more shield damage in addition to being slower. In both the games and anime, Razor Leaf just cuts through everything as opposed to outright blowing its target way. Giving Razor Leaf more shield damage would not only be more balanced (pretty easy to powershield anyway), but also pretty accurate canon-wise. Regarding Ivysaur's other moves, I think that Nair should have a less hitboxes and a strong hit at the end with p.bad BKB, but really good KBG. A change of that nature would make Ivysaur a more combo oriented and give her a potential setup for an edgeguard.
Just a few suggestions, don't take them too seriously =/
As far as Ivysaur's Down B is concerned, I'm all in favor of a Force Palm- / Koopa Klaw-ish move; i.e, Cut sounds great. Cut could have a hitbox similar to KK if it doesn't grab and become a meteor when used in the air.
EDIT: Er, ninja'd 9.9