Well idk what to say about your Zelda gameplay, because I don't play the character. All I can really tell you is that the match would have been even more difficult if the Falco just camped you. I remember going lol when the Falco literally jumped into your dtilt and you got like 40-50% free damage off the lock.
Looking over the video again, I think 2:30-2:34 is the defining moment of this whole match. Falco decides to play the MU properly and camp you for like 3 seconds, and then he randomly decides to run at you giving up the good position and damage he could have gotten from lasering. He eats a dtilt lock for his troubles. Also this moment shows that you really don't know how to deal with lasers. You had to rely on spotdodging to avoid getting hit. Instead you should learn to powershield lasers or avoid them altogether. I'm pretty sure Zelda's dtilt makes her crouch low enough to avoid anything but a grounded laser. Both are much better alternatives then spotdodging lasers. Aside from the specifics, I think this instance just shows that the Falco isn't really playing the MU correctly, and you also have no reliable answers to standard Falco tactics.
I really can't tell you anything MU wise, because I have next to no experience in this and I also feel that it is being played incorrectly. You do, however, need to improve on your general players skills such as reading and DI'ing. You DI'd very poorly on your second stock against the f-smash, and I can't say 100% that you would have lived, but with the proper angle and momentum cancel with neutral-B Zelda can live pretty long. I also say you need to improve your reading skills, because in this match you got a lot of free damage from the enemy falco just running into stuff. I'm not saying this was all your damage, and I'm not taking away from any reads you may have made during that match. But if the MU is played properly, you're going to make a lot more reads seeing as you won't get nearly as much damage as you did if the Falco doesn't approach the way your opponent in the vid did.
Also food for thought, learning how to bait will help you tremendously. A very simple bait that I've seen used with great success is this tactic used on a recovering Falco. If a Falco is recovering, and he's already used his second jump, but he's still offstage, his only real option is his sideB. So what you can do is walk right up to the edge of the stage so that your character goes into the animation where he looks like he's about to fall off the edge. Your intent to grab the ledge is very obvious, so given that your opponent isn't crazy, the Falco will go for a phantasm above the stage. Now knowing this, you quickly run back and charge an u-smash or any move that will reliably beat Falco's sideB, and you got yourself a free hit. This match of San vs Bloodcross is a perfect example:
http://www.youtube.com/watch?v=nbNh0elGC4w All of Ike's kills in some way involve this bait. Notice that on BC's second stock, he adapts to San's bait and goes for the edge twice instead of onstage. San of course adapts and goes for the edge the third time this situation arises and gets the stock. So don't forget to adapt and change your response to the situation. Seeing how strong Zelda's u-smash is, I'm sure you can get similar results, and hopefully you can think of your own unique baits.
Hope this helps
Don't think I'm quite at the point where I can reliably make reads but I'll definitely work on it. Thanks :D 
