You can be agressive against Hugo so long as you keep the pressure going and don’t leave too many windows – well, any windows if the Hugo player has half a brain, otherwise you’re eating a command throw.
Be very careful with your toward+RK pressure. It’s safe from max range, but if you’re too close he can grab you with Moonsault Press (equals crazy pain for Ibuki). If he parries it, you’re in trouble.
Same with down-toward+FK (slide). You can use it safely, but only from max range, and you gotta be careful about how you follow it up. If you’re too close, or you follow up with a laggy move, you’re in for some pain.
Be cautious when using her UOH too, I think it’s punishable close range via Moonsault Press (ouch).
Jumping in recklessly = free Shootdown Backbreaker for Hugo, which = bad for Ibuki. I usually only jump at Hugo after a knockdown or if he whiffs a laggy move, or if I have enough meter for EX knives.
Abuse walk-in jabs, especially when he’s in the corner. Mix in with c.SK xx EX Tsumuji (qcb+2K). Mix in with throws and ground chains. If you connect with a far jab, remember your JP>SP>toward+SK chain. Don’t get predictable or he’ll just throw/kara-throw you, or worse.
I use toward+FK if the Hugo pokes low a lot. Follow up toward+FK with s.FK xx EX Tsumuji (qcb+2K) if you hit him while he’s crouching (or if you use SA.III, use that).
Hugo is tall enough to be hit by the JP>SP(2hit)>c.RH>s.RH>SJ cancel, chain even when he’s crouching. It’s also pretty safe when blocked.
Sometimes I’ll end the chain at the c.RH for the knockdown (because the s.RH re-sets) and go for some wake-up stuff.
Play footsies with c.SK, c.FK, c.RH>s.RH.
I sometimes use back+FK at max range and SK-Tsumuji (qcb+SK) at max range to pester/pressure.
Some one mentioned back-dashing on wake-up if you get crowded (forget who mentioned, sorry).
If anyone can add to this, please do.