Review review...

1st of all, this still seems more like an alpha version than a betha.

2nd: You may say: "Oh but this is newgrounds, no one gives a shit",
you shouldnt add comments warning users from what they shouldnt do... its wrong, the user must be protected from their own mistakes ( I had to study that =s ).
That off screen fall and the life bar are easilly fixed, at least in an alpha version, so, dont be lazy =P

3rd: about the "game"
Since it seems that you pretend to make the game in that scale, why not add air-atacks?
If the combat stage is not linear as in Tekken, SF or other games, but it has more plataforming aspects as in Newgrounds Rumble, why not air-atacks?
Also, why not combos? They dont need to be very big, but a simple 3 hit combo for normal atack would be interesting.

Continuing, a little wierd thing in my opinion is the way they get stunned.
Wouldnt make much more sense they get in that condition by being severally spanked instead of their defense broke up?
Otherwise I could make my char get stunned because yes...

The dash thing could work in air...

One other thing that I think needs serious work is the control configuration.
The controls are to much close and make that the playing with one hand is not enougth, but playing with two gets a mess.

So far I cant remember much more to say, but I'm curious to see the AI and the next improvements.