If you look here and here you’ll see what I mean by only 1 color. There is a way to swap all the pallets. It’s mentioned on the other site.
Right I have what was available Cammy and C. Viper in all colors. But I downloaded offzip and utraedit to do the rest on my own but I am having trouble doing it myself so I will probably just wait for the experts. 
It even works on the original benchmark… [media=youtube]n7u6a8l6ko8[/media]
Basically (Im a software dev and have modded many many PC games)
It IS safe if you make note of a couple things. You will most likely have to REPLACE an existing model/costume.
so in very simple terms (i dont have it on the pc so I dont know what the files are/look like, if multiple models are loaded etc) if sakuras alt model is SAKURA_ALT_MODEL.ext and alt costume texture is SAKURA_ALT_TEX.ext. and the new model/texture you want to use is called SAKURA_ALT2_MODEL.ext and SAKURA_ALT2_TEX.ext. You have to rename the latter to that of the original alternate costume and replace them. So what i am saying is, it doesnt matter if the model tex themselves are different long as the references are not changed. i.e. the game doesnt give a shit what the model/tex looks like, it just cares if it has a name it can recognize and that your opponents computer can recognize.
Because if you added a new costume, and set up the game to recognize sakura as having more costumes then your opponent THEN if will fail for online play, because when you select your costume, his game has no idea what the hell that is, but if you simply replaced one of the costumes with a new one, no problems his game looks for costume 2, finds it, your game looks for costume 2, finds it. Only difference is, the costume looks different on yours whereas it looks like the default costume you replaced on his.
You can mod the game however you want and play with others if they have the same exact mods done. i.e. if you created a model of ryu with a beard, zangief chest hair and a hot pink gi as a new character “Old flamboyant Ryu”. As long as that other person installed the same mod you CAN play online with eachother. Like shooters, would be awsome if the online had a look for same mod feature in the match search. Plenty of shooters have big mods that lots of people love and play, and play eachother online.
Ok I can confirm the mods work online without problems. I just tried Chun lis alt costume, the Nude patch for her and Sakura with her alt. All works fine… Though I got my ass rocked by some noob online while using Chun li lol.
EDIT: I would strongly suggest not using the mods unless you have all the alt pallets and such. Otherwise you will end up with your online rival being just a still model moving around. You won’t see the movements and will end up getting your butt kicked. Just a warning.
Ok so texture mods work fine. They will only replace the color you edited. But again the alt costumes will replace all character data you see on your game. The system just loads the files as it always would, so be sure you have the full pallets before you go online.
OMG you guys are gonna laugh so hard. They figured out how to swap move sets. I went online with Chun li but she was using Sagats moves. Works perfect but people who play online will cry lol. I’ve made a vid but I have to encode it and upload to youtube.
Here’s some Chun-Li as Zangeif action.
Be afraid.
I was hoping this would happen lol
awesome!
[media=youtube]QeqtvmEAFVk[/media] Chun li as Sagat! It works online too but… Me and Bojack(the guy who modded the CMN) are wondering what the other player sees. Anyone wants to add me and play vs I’d really appreciate it. GT is the same as my user name.
Could you post a little tutorial ?
There is no tutorial well… there is one on that site. Go to the site listed in the second post of this tread. You will find the file listed there by bojack. Download replace the files in C>Program Files>CAPCOM>STREETFIGHTERIV>Battle>Chara>CNL. Make sure you back up the original CMN!
Oh and the other player will see Chun li according to a friend. I have no idea if it works on ranked matches and I won’t try it.
I only used this mod and uploaded video of it working.
I got the same problem using Texmod. But there is a EMZ version, just color red not black. http://pc.duowan.com/article/20090709/1247112158.html
where is the link?
I’ve made an Evil RYU mod!!!
http://files.getdropbox.com/u/182004/SF%20IV/Evil_RYU.png
http://files.getdropbox.com/u/182004/SF%20IV/Evil_RYU_Demon.png
very cool, but the lip is strange
Digital: You hex modded it yourself? Could you give me some pointers, I’ve looked through it but it always looks like gibberish. It doesn’t appear like I’ve seen on screen shots.
locate the character’s CMN.EMZ file you wish to use the moves from. (in this case I wanted Akuma’s moves so I went and located his file “GKI.CMN.EMZ”)
you extract the DAT file from cmn.emz file
open the DAT file in any hex editor
scroll all the way down to the bottom of the list
there will be 7 entries with the character’s letters (in this case its GKI)
replace GKI with the letters of the character that you want to use Akuma’s moves with (in this case its RYU)
So we replace GKI.skl.emo with RYU.skl.emo and so forth.
http://files.getdropbox.com/u/182004/SF%20IV/hex.PNG
EDIT: I just tried these online with my friend and it didn’t work for me online.