What does being technical mean? I think it's like this: A technical player is one who gets destroyed until he catches his opponent with some attack/pattern, at which point he destroys very efficiently. A "mindgame" emphasis would entail a more defensive (inasmuch as a good Falco is ever defensive) style which results in slower, more even damage over time, as opposed to the sudden spikes (pun intended) in damage from a technical, aggressive style. You might also be able to make a case for "technical" relying on more preset combo patterns, as opposed to the "mindgames" which involve a more fluid, contextual approach.
In this sense, "technical" is a description of a playstyle, and not general proficiency; this is necessary to compare it to "mindgame-y."