Well, the game is very well balanced. I would say that Blue Sky’s was slightly more balanced, but there is not much abusable stuff in Bad Moon so I won’t complain.
I play almost everybody, but my main characters are Misaki, Mai, Mio, Nayuki, Doppel Nanase, Sayuri, Misuzu and Minagi. Let me start with these:
Misaki: rush down character, despite being slowed down a lot from previous versions. In EFZ she had infinite dashes plus more speed. Overall she was toned down in Bad Moon, but she gained a non-super counter and can still make a lot of damage. Grab super has nice setups, and counter super PWNS. Very dependant on reinforce. Has a 100% combo but don’t even try to get the timing.
Mai: the most changed character in Bad Moon and easily the most nerfed. In EFZ she had a nice looking but overpowered mixups with her familiar. In BSE the mixup was harder to use. In Bad Moon they just redesigned how the familiar works so they took it out. So the familiar lost her abusability, but Mai got a lot of more options. She still can attack from both the front ant the back, but not as easily as before. Her teleport cannot go thru characters any more but can followup with autoguard attacks. Her 6A/6B slashes got nerfed too. She is supposedly low tier now, but still solid and a lot more interesting with the new familiar system.
Mio: she stayed as top tier from BSE to BME for the simple reason that she is overall a very solid character. If one mode does not work well the other should be fine. The funniest character to see just because of all the parodies. I personally prefer blue mode, but sometimes switch to red mode when playing keepaway. Just solid overall. Blue mode needs a lot of meter, but the qcb qcb super is worth it. Got a Ciel reference too!
Nayuki: took me a while to get used to her, but she is a fun character. Lots of mixups with her air dashes, good EX moves, good range, can play both keepaway and rushdown, decent combos. In BME she is finally able to combo her hidden super. You need to make sure to eat those jams, so characters that knock you down easily can be troublesome to deal with.
Doppel Nanase: the game needed a more serious grappler than Rumi and here she is. My favorite of the new BME characters. She has problems against good zoners but I just like to go for those grabs. She got good pokes, but not many options when she is not in the opponent’s face.
Sayuri: she was the Kyosuke of EFZ and now she is top tier. Not that many options but those she has are very good. Careful with being predictable, though. Can rush down very welll and has solid combos. Abuse EX Magical Press and learn how to combo after that.
Misuzu: she lost her mixups and her corner combos are not as retarded, but didn’t change much after that. Jumping C is a very good crossup, and dog super can chip a lot. Easiest air combos in the game, IMO.
Minagi: her normals suck, but combined with Michiru she can give you so many headaches with her mixups its not funny. I have been increasingly using her since BME came out.
The rest:
Ayu: toned down in BME. Combos make less damage, less juggle potential, lost her spinning attack for a taiyaki dive that is not good as a wakeup. But still got very good normals, and damaging combos. qcf qcf super got beefed up as well. Still has the best lv. 1 super in the game.
Will finish them up later.
Just to emphasize: this game is extremely well balanced. The top tier has a +6 game difference and the bottom tier has a -6. That’s a difference of 12 wins between both ends, and considering that a +0 is 95 wins, that’s nothing at all. Heck, there are only four 7/3 matchups.
Match table: http://bomber.xps.jp/dia/