This is the Fighting is Magic MEGA demo build.
It's far from complete, so i'm going to be updating it over time.
Let's get started, shall we?
v0.6.1
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General
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+-Added Burly Hitstun and Guard Crush hitstates. These are currently only inflicted by Big Macintosh.
*-Removed Jolly Colors. Hope you all enjoyed them while they lasted!
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Applejack
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*-Resized both hitboxes on Aerial Heavy to better match the downward swing of her hooves.
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Twilight Sparkle
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+-Twilight's Aerial Heavy has gotten a rework! This attack now has 2 variations: Burst Style and Blast Style. Burst Style is performed just by pressing Heavy, resulting in the blast spiking the opponent towards the ground for a groundbounce, and Blast Style is performed by holding down and pressing Heavy, resulting in the blast Recapturing the opponent and sending Twilight down towards the ground with the enemy. Blast Style has increased startup, and keeps Twilight lower to the ground to help with following up after the opponent lands on their feet.
=There were many who liked the change to Twi's aerial heavy, and many who didn't. This change should please both sides, as the Recapture command attack now helps Twilight keep descending to land around the same time the enemy does, and the normal Groundbounce version helps with those who are about keeping things going with juggles.=
+-Added a second Magic Meter on top of Twilight's original meter. This meter will be used when Spike Assists are put into the game.
*-Fixed Light Forward Teleport not respawning Twilight's shadow upon re-appearing.
=Spike is disabled in the demo until we can at least get his basic movements in the game. He still appears during Twilight's standing and aerial guard animations, though.=
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Rainbow Dash
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+-Added Lightning Cloud! This attack has two different versions: Grounded and Aerial. Grounded Lightning Cloud will cause Rainbow Dash to spawn a lightning cloud in front of her, and kick it at the opponent. It has relatively short range, so it isn't the best projectile. If you have an extra bit of RD's Magic Meter, the kick will cause the projectile to go further, and turn into a multihit attack.
Aerial Lightning Cloud causes Rainbow Dash to spawn a lightning cloud at her feet, and kick it to send a bolt of lightning crashing down on the opponent. Medium Version will send RD forward upon kicking the cloud, and the Heavy version will sned her backward. If you have an extra bit of RD's Magic Meter, the kick will spawn 3 bolts of lightning and send RD straight up into the air. 
*-Fixed Bolt Kick's followups switching to a reverse kick if she previously had her Flight interrupted
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Fluttershy
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+-New Standing Light animation. This changes a TON of frame data on this attack, making it the slowest jab in the game to date.
*-Updated Animal Summon animations to match the Standing Light animation update
*-Updated grab whiff animations to match the Standing Light animation update
*-Fixed some enemy placement issues during grabs
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Trixie Lulamoon
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*-Fixed Standing Mid putting opponents into a Crouching guard state if it was blocked while standing.
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				PREVIOUS BUILDS
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v0.6.0
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General
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+-Added a neat new visual effect to Recaptures. The background now fades to black while the hitspark is on screen, and fades back in when the hitspark disappears. 
=This may be a bit disorienting for players, so please give me your feedback.=
+-Added Theme Selection. Head to the Game Options during a match, and press left or right while highlighted over "Stage Lighting."
=Note that I DO know it skips over Gilda's theme if you try to head backwards from Applejack's theme.=
+-Added Jolly Color Schemes to all characters! Merry Christmas/Happy Hearthswarming!
+-New Command Lists! They can be accessed from the Options Menu, or the in-game Pause Menu.
+-Added Rainbow Dash to the Character Select screen.
+-Added the FINAL version of Griffonstone.
*-Updated Character Select. Now all open slots have a silhouette in them as opposed to a color gradient.
*-Lowered Screen-Stop times when an opponent is hit by/blocks your attack. This should help battles feel more fast-paced, and run smoother.
*-Removed 60 frames during the Stun gethit. 
=This gethit was only really used for Fluttershy's Stare, which offered a lot of time to plan your next move. Now Fluttershy mains must be quick on their feet and have a general idea of what they want to do after they stun the opponent with her stare.=
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Applejack
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+-Added Final Character Select Banners.
+-Added Jolly Color Scheme (Color 3)
*-Adjusted hitboxing on Lass-O-Rama H, and added 13 startup frames.
=This version of the attack covered a HUGE area. The hitbox is now more precise, and you shouldn't encounter any "how the hell did that hit me?" moments. This attack also came out REALLY quickly, and because of it's wide hitbox, had a really good chance of hitting the enemy. The added startup frames might make some setups obsolete, and if so, I might have to remove some.=
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Twilight Sparkle
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+-Added Jolly Color Scheme (Color 3)
+-Added Magic Eruption. (DD+A/B/C) Twilight channels the magic she has stored in her body, and releases it in one powerful burst! Requires 1 magic. 
+-Return of the Chapter Traps! (QCB+A/B/C/D) Different strengths change where the trap is summoned, and the Magic variation is a super-powerful version of the Chapter Trap that doesn't fall to the ground.
=Thanks to my mistake of removing her Chapter Traps, she felt like she didn't have enough tools. That's why, the Chapter Traps are making a triumphant return!=
+-Added Recycle (QCF+A/B/C) This move can only be performed when a Magic Spark is on screen. This causes the Magic Spark to explode, and return magic to Twilight.
=This change was added to help her with her new magic resources.=
+-Added Heavy Reverse Teleport. (RDP+C) This attack sends Twilight to the corner of the wall behind her, so it's good for avoiding attacks like Trixie's L.Great Beam.
*-EX Magic Spark hitbox adjusted, damage down from 50 to 25, +6 startup frames, +9 recovery frames, and now costs 1 magic as opposed to 3.
*-Read A Book now has 3 versions. No magic takes up a total of 58 frames to complete, With 1 Magic takes 47 frames, With 2 magic takes 36 frames, With 3 magic takes 27
*-Yet another Magic Spark nerf. Hitbox adjusted to better match projectile, speed reduced on all variations.
=All of these changes were added to make her feel less bare-bones. Magic felt like it wasn't a strong enough part of her game plan, which I thought was odd since she specializes in magic. I wanted it to be a strong part of her game plan, but not as strong as it is for Trixie.= 
*-Fixed Heavy Teleport (Forward and Backward) not putting Twilight in the air.
*-Fixed Chapter Trap explosions causing the magic meter to go nuts.
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Rainbow Dash
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+-Added Final Character Select Banners.
+-Added Jolly Color Scheme (Color 3)
*-Reworked Bolt Kick (QCF+A/B/C). All variations now travel the same distance, and end in a second attack that changes depending on the attack strength. If this attack is blocked, Rainbow Dash will bounce off of the opponent.
 [Light - Low-hitting link attack
  Medium - Mid-hitting knockback attack
  Heavy - Overhead diagonal knockdown attack (Puts the enemy into a groundbounce state if     the opponent was already on the ground)]
=A lot of people weren't very happy about Bolt Kick's current state, because it only had a single use and couldn't be used in a lot of situations. This change makes Bolt Kick a lot more useful in a lot more situations.=
*-Divekick now puts the enemy in a Medium gethit state, as opposed to heavy.
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Pinkie Pie
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+-Added Jolly Color Scheme (Color 3)
*-Aerial Heavy has been reset to Party Flip, and takes advantage of reboost.
*-Party Spin has been reset to Aerial Heavy.
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Fluttershy
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+-Added Jolly Color Scheme (Color 3)
*-Fixed Aerial Heavy stopping Fluttershy's horizontal movement.
*-Fixed Fluttershy's Flung Back gethit state not carrying out all the frames to cause her to land on the ground.
*-Small hitbox adjustments on Standing M, Crouching M, Jumping H, and Stare.
*-Fluttershy is now boosted into the air slightly during Jumping H.
*-Animation cleanup on Standing H. Now doesn't look terrible, and lasts a total of 57 frames.
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Rarity
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+-Added Final Character Select Banners.
+-Added Jolly Color Scheme (Color 3)
=Rarity changed DRAMATICALLY when she was released for MEGA. Projectile buffs, melee nerfs, and the removal of dashes made her play like almost an entirely different character. 
This update revolves SOLELY on buffs to Marshmallow Butt.=
+-Re-added Forward and Backward Dashes.
=I originally removed these because she was able to get in too easily to deal damage, and that ISN'T what Rarity is supposed to be played like. These dashes are INTENTIONALLY bad, as she shouldn't be relying on them. However, they are lower-body invulnerable. Use that to your advantage.=
*-Increased Walk Back Speed to -200 from -180
*-Increased Damage on Air H from 3 to 6
*-Removed Fan Twirl (Was a pretty useless tool that was only taking up space)
*-Decreased Size of Hurtbox on Standing H to be more specific to Rarity's body, and where she should actually be able to be hit. 
*-Increased Size of Hitbox on Standing H to ensure it always hits on block.
*-Fixed Hurtbox of Rarity's hoof not going away during in-between frames of Standing M.
*-Fixed certain Hurtboxes not being throw invulnerable during standing normals.
*-Light Missile Gem now fires 20 frames faster.
*-Medium Missile Gem now fires 15 frames faster.
*-Heavy Missile Gem damage increased to 12 from 8
*-Standing M can no longer be cancelled on the first hit of the attack.
*-Readjusted Hitbox on Standing H. 
=This attack had phenominal range, taking up half the screen. It still has a lot of reach, just a liiiitle bit less now.=
*-Gem Wall now gives 1 unit of magic every time it is hit, and has had it's cooldown increased to 10 seconds.
*-EX Eruption Gem now appears further away from Rarity. 
=It felt odd having this attack appear so much closer to Rarity than the weakest variation of Eruption Gem, so I adjusted it to be more useful as a ranged tool than it already was. This change also helps prevent very easy corner juggles.=
*-Increased Rarity's Backdash distance to 350 from 95
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Trixie Lulamoon
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+-Added Final Character Select Banners.
+-Added Jolly Color Scheme (Color 3)
+-Pendant-Port has been replaced with Smokebomb. This still acts as a teleport, but no longer costs magic and can be canceled into any move 3 frames after reappearing. 
*-Counter H now puts the opponent into a Spiraling Straight hitstate if it hits.
*-Crouching Heavy no longer trips the opponent, no longer ignores Sky Block (whoops), and hitbox adjustments to hit lower to the ground, and add more vulnerability hitboxes to the attack.
*-Crouching Mid now comes out 4 frames faster, and has 10 more recovery frames. (The recovery frames are mainly there to make the attack look better on whiff. She actually holds her hat out after taking it off.)
*-Standing H now moves Trixie forward on the frame the hitbox comes out.
=This is to help ensure that the attack will link out of a medium.=
*-Color 1 has been switched back to the Falsepalette, and Color 7 is now normal Trixie.
*-Magic Surge L, M and H now appear further away from Trixie. This prevents close-ranged normals being able to cancel into Magic Surges. (This also applies for Launcher Surge, and Aerial Magic Surge L and M.)
*-Magic Surge M now has +8 recovery frames
*-Magic Surge H effect has been changed, and no longer recaptures opponents.
*-Magic Surge L, M and H now appear further away from Trixie. This prevents close-ranged normals being able to cancel into Magic Surges. (This also applies for Launcher Surge, and Aerial Magic Surge L and M.)
*-Magic Surge M now has +8 recovery frames
*-Magic Surge H effect has been changed, and no longer recaptures opponents.
=There have been complaints about Magic Surges being easily spammable, and able to keep opponent away with pressure strings. This change, hopefully, will fix that.=
*-Fixed Trixie's Diagonal Knockdown not sending her forward at all horizontally.