Stolen from 30 ninjas which in turn was stolen from dustloop. Seems they're kinda nerfing and buffing the right people, but it might end up being like CT Rachel>CS Rachel all over again from some characters. Either way, "tiers" are going to be drastically different now, with Tao losing her taunt loop and Makoto her parry loop.
 
Overall, I'm oddly pleased with the Tao changes as I'm a bit of a scrub. I never managed more than 3 reps of taunt loop and even then I fudged the end, the increase in health is very welcome and changing JB to a shorter Cat Spirit 2! will allow me to end air combos more reliably. I'm interested to see how they've changed her drive too.
 
REMEMBER THESE CHANGES ARE NOT FINAL!
 
So, did they nerf your duder?
 

Ragna:
5D on grounded opponents no longer floats.
3C can be ground teched.
5B>6A gatling is gone. Doesn’t combo normally either.
Inferno Divider no longer wall bounces unless you are in a corner where it wall bounces just enough to put them on the other side of you.
Belial Edge actually bounces higher, making it harder to combo afterward (a fast enough 5D will still combo though). Belial Edge>5D still works in the corner.
Belial Edge damage significantly reduced.
Gauntlet Hades causes Ranga to fall to the ground faster after execution. Cannot do follow-up kick low to the ground anymore for combo purposes.
2D is harder to combo from. Cannot be followed up by 2B.
Dead Spike hit on aerial opponents causes them to fly straight up.
Forward throw wall bounces.

Jin:
2C>5C gatling added. (cannot re-gatling into 2C)
B Musou causes knockdown.

Noel:
2C>5C gatling added. (cannot re-gatling into 2C)
j4D has been significantly sped up and now hits low.
5D invincibility frames have been reduced.

Rachel:

Overall damage increase.
jA hits high.
5B>2B gatling added.
6A starts up quicker.
6B on counter hit causes slide. Wind+Dash can be used for a follow up.
6B hit stun reduced, harder to combo afterward.
6B is now jump cancelable on block.
2C hit stun increased.
5C>C now causes slide.
Mid screen C Lobelia>3D>Sword Iris/Baden Baden Lilly combos.
In corner 5C>C>3C can be looped twice.
J2C hits high.
j2C can be cancelled into other attacks on landing.
j2C is cancellable and jump cancellable even on guard
Lobeilas come out even when hit in the middle of the animation.
Lobelias have increased recovery time.
George XIII can be repositioned and now operates off of a frog gauge.
Tempest Dhalia removed.
Wind gauge takes longer to recover.

Tager:
Atomic Collider has increased same move proration.
6A is now chargeable, with magnetic pull during charge time. Can be charged even when comboed into.
6A is no longer jump cancellable.
5D pulls magnetized opponents in more.
Tager’s hit collision box has gotten even smaller making him less of a huge target.

Taokaka:
jB is changed, now does a quick Cat Spirit 2 for 2 hits. Operates like Cat Spirit 2 from Calamity Trigger. Damage is low, but has decent hit stun and proration and a large hit box.
Old jB is now j2B.
Taunts now prorate 30%. Taunt loop no longer useful.
Drives all have increased recovery time when cancelled into a followup.
Drives hit stun increased.
Health has been increased.

Arakune:
Overall damage decrease.
Guarded drive moves add very little to curse gauge now.

Litchi:
Overall damage decrease.
Without her staff, 2B>5B gatling has been added.
Recalling staff during a dash makes it return quicker.
3C with staff now ground techable.
6A with staff cannot be followed up unless rapid cancelled.
6B with or without staff doesn’t wall bounce.
4D slides. Follow ups only possible in the corner.
4D can’t be canceled.
6D can’t be canceled.
2C now combos into 4D out of the corner, or 2D and Haku in the corner.
6D’s hit stun decreased.
jC without staff is now techable.
jCC second hit removed.
Can’t cancel moves into 41236D.
Tsubame Gaeshi’s (623D) second hit (falling staff) happens quicker. If it hits, 6C won’t follow-up.
All green can now be teched on air hit
New Litchi combo in a corner: 2C > Haku > Chuu > Hatsu, A-Reach > Ippatsu > on-staff B, 6B > D > j.C > D-returns > land > 6C > Itsuu-C > aerial finisher.

Bang:
5B starts up slower.
2C starts up slower.
2B>5B gatling added. (cannot re-gatling into 2B)
Heavenly Phoenix no longer wall bounces.
3C is ground techable. 2363214C no longer follows up.
Ashura Distortion Drive now starts up much slower but is invincible until it activates.

Carl:
2B>5B gatling added. (cannot re-input 2B)
Untechable time on Nirvana’s moves have been shortened.
Nirvana’s gauge recovers slower.

Hakumen:
jD knockback increased.
jD can be special cancelled for follow-ups.
5D damage increased.
Winter’s Riposte damage increased.

Lambda:
Second hit of 5DD is slower.
All drive moves have increased time between startup animation and blade summoning.

Tsubaki:
5D now instantly charges one stock of the install gauge on startup, but charges very slowly if held down.
2D starts to charge slowly but increases charge speed quickly over time if held down. Has more recovery time at the end.
jD still charges at a flat rate. Charge speed has been increased.
5B damage increased.
6BB reaches further.
2BB>5BB gatlings added. (Cannot re-gatling into 2BB)
2C can be jump cancelled on guard.
2CC floats less. 2CC>5CC techable after the first 5C.
3C is ground techable.
236A start up time increased. Cannot be comboed into. Higher proration.
236C has increased invincibility on startup.
236236C has increased invincibility on start up.
214A and B no longer floats opponents.
214X has increased hit stun.
Hitstun decreased on 623A counter hit. Can no longer follow up.
22D no longer wall bounces except on counter hit. Can be comboed into a 236D mid-screen or into normals in the corner.
j236A has increased startup time. Can’t be comboed into.
j236C has increased landing lag.
Throw now causes slide, and the animation cannot be cancelled. 236D follows up after a throw in mid screen and can start a combo. In a corner, she can follow up normally.
It is easier to combo out of an air throw.
jCC > j236D > j214D combo hits. The orb from j236D hits an allows for combo follow up.
New combo, 2A > 5BB > 2BB > 5CC > 214A > 22C > 3C

Hazama:
Ouroboros start’s up slower and travels slower.
Ouroboros gauge takes longer to recover.
5B’s hit stun reduced. If 5B>3C is not inputted with incredibly fast timing it won’t combo.
3C now floats grounded opponents.

Makoto:
Parry cancel/loop removed.
5B starts up faster and can be jump cancelled on block.
Second hit of jCC removed.

...? 
I wonder just how much Ouroboros will change... *sigh* I'm gonna have to relearn timing once I get home? That's just swell. At least I'll already be out of practice; it'll be like using him for the first time (maybe. It'd make me feel better)!

Nerfs on Ragna, Bang, Litchi? Well Carl is going up there then.

I welcome some of these changes, but I'm not sure if it was necessary to further nerf people like Lambda, Carl and Hazama. I mean, weren't they (except Hazama) already toned down from their CT counterparts? 
 
I do agree that Tsubaki needed some buffing of the Install charge speed. Without it, she was just a weaker version of Ragna. Good(?) to know that Tager remains mostly unchanged. I'm also glad to see Rachel get buffed a little, though I'm hoping they didn't overreact again and make her uber-powerful.

I can't wait for Continuum Shift #3, where all attacks will be techable, frame advantage no longer exists, and all projectiles will do 1 damage. Noel will remain unchanged, but still low tier because no one likes Noel :(

I can see the new tier list now.
 
A: Rachel
B: Ragna, Jin, Litchi, Bang, Hazama, Hakumen, Lambda, Tsubaki, Carl, Arakune, Makoto
C: Noel, Taokaka
D: Tager
 
This is not how you balance a game. :|

Some of this stuff is a bit sketchy to even call it a new feature/change. 
 
Like someone said on DL, you can, for instance, say that Noel's 5D *feels* like it has less invincibility. You're not gonna be able to say it has less, or you can if you're some kind of a cyborg with flunky eyes that can count frames. 
 
On that note, cant wait to see if that j.4D makes it through, Noel desperately needs more in the mixup department, seeing that we've nothing that actually leads up to a decent combo of a poke :<

More changes from the second location test (first test changes still apply) (all credit to Dustloop). As wighti said, take these with a pinch of salt as they're a mix of opinions on stuff that isn't final yet! But this is going to cause yet more tier upsets.
 
They're really determined to shorten Tao's combos with the change to j2D. A slower overhead too (but at least you can combo with it now). Also assuming the 6C change means what I think it means, I used it to break into 50% of my air combos after the wall bounce so I'm rather bummed about that if it goes final.
 
Edited to make thread not massive.

"
5B 3C 214D~C doesn't connect anymore. 
"

The Valkenhayn (okay, and the 1.02 patch) watch for the 360 has now entered week 6 since it was released on the PS3. I am not happy with this.

You totally reminded me that the 3rd test is going on. We should also take bets on what happens first, EU CS or Valkenhayn DLC.
 
Anyway, wall of text inc, thanks again to Dustloop. (This is going to look messy when tests are done).
 
Ragna:
Test 3

• 5B air unblockable (barrier guard works).
• 2C -> 5C gatling added.
• Overall damage tweaked nerfed.
• 3C combos into 22C.
• 2D has better proration.

• 5B -> 6A is back.
• 5C, 2C -> 6A added.
• Ground Gauntlet can be followed up.
• Blood Kain -> 6D 6D possible.
• 6A weaker (less range, etc.).
• 2C slower.
• 2D doesn't break primers.

• 5D on grounded opponents no longer floats.
• 3C can be ground teched.
• 5B>6A gatling is gone. Doesn’t combo normally either.
• Inferno Divider no longer wall bounces unless you are in a corner where it wall bounces just enough to put them on the other side of you.
• Belial Edge actually bounces higher, making it harder to combo afterward (a fast enough 5D will still combo though). Belial Edge>5D still works in the corner.
• Belial Edge damage significantly reduced.
• Gauntlet Hades causes Ranga to fall to the ground faster after execution. Cannot do follow-up kick low to the ground anymore for combo purposes.
• 2D is harder to combo from. Cannot be followed up by 2B.
• Dead Spike hit on aerial opponents causes them to fly straight up.
• Forward throw wall bounces.

• 5C air unblockable (barrier guard works).
• 3C techable now.
• 6A forces crouch, can't special cancel. ( ≖‿≖)
• 5D slower, freeze still as short.
• 5B > 6A gatling added. Of course, it doesn't combo.
• 2B > 5B gatling added.
• 6A can't be punished (unless you IB). Will combo into 5C on CH.
• 623C has more untech time, unairtechable from a ground hit. Can still combo.
• Less proration on forward throw's third hit.
• 5C has less range.
• 2D is slower.
• More proration on back throw.

• 5D much faster, comboable from 5C.

• 2C>5C gatling added. (cannot re-gatling into 2C)
• B Musou causes knockdown. 

• 5C doesn't move her forward.

• C Silencer lifts higher, easier to combo from longer distances, harder for longer combos. Added in same-move proration.
• Barrel even faster.
• 6A hits crouchers.
• 5C jump cancelable on block.
• Some Chain Revolver parts faster.
• Hitting with Bloom Trigger on standing opponent will slide them.
• 5D slower.
• Spring Raid hits to edge of screen, can't follow up unless in corner. Does less damage overall. 

• 2C>5C gatling added. (cannot re-gatling into 2C)
• j4D has been significantly sped up and now hits low.
• 5D invincibility frames have been reduced.

• 6A has been buffed.
• Tempest Dahlia has no wind consumption. Speed is good.
• 6B -> 6C gatling added.
• Wind affects movement more.
• 6C forces standing.
• 3C hits higher.

• Pumpkin much faster, can head to edge of screen in an instant. Still disappears on hit.
• Tempest Lobelia buffed, much faster. Can actually combo from 5B.
• 5CC sliding has more untech time.
• Wind recovery starts out extremely slow, but once it starts, will recover fast.
• 6A back to CS version.

• Overall damage increase.
• jA hits high.
• 5B>2B gatling added.
• 6A starts up quicker.
• 6B on counter hit causes slide. Wind+Dash can be used for a follow up.
• 6B hit stun reduced, harder to combo afterward.
• 6B is now jump cancelable on block.
• 2C hit stun increased.
• 5C>C now causes slide.
• Mid screen C Lobelia>3D>Sword Iris/Baden Baden Lilly combos.
• In corner 5C>C>3C can be looped twice.
• J2C hits high.
• j2C can be cancelled into other attacks on landing.
• j2C is cancellable and jump cancellable even on guard
• Lobeilas come out even when hit in the middle of the animation.
• Lobelias have increased recovery time.
• George XIII can be repositioned and now operates off of a frog gauge.
• Tempest Dhalia removed.
• Wind gauge takes longer to recover. 

• Throw range increased. Still not at CT range.
• 2C -> 3C gatling.

• 6B slower, but will combo into 5B on all crouching characters.
• Cat Spirit 2 causes sliding.
• New jB hits mid instead of overhead now (old jB is now j2B).
• Can't cancel into Cat Spirit 2 from jD moves.
• 6C causes slide, can't combo unless in corner (Seems fatal 2C 6C will still wallbounce? No tauntloops either way.)
• You must change up which jDs you use or you'll stop and fall in the middle of your combo.
• j2D stronger, heads downwards more, harder to combo with.
• No 6C to Almost Becoming Two combos.

• jB is changed, now does a quick Cat Spirit 2 for 2 hits. Operates like Cat Spirit 2 from Calamity Trigger. Damage is low, but has decent hit stun and proration and a large hit box.
• Old jB is now j2B.
• Taunts now prorate 30%. Taunt loop no longer useful.
• Drives all have increased recovery time when cancelled into a followup.
• Drives hit stun increased.
• Health has been increased. 

• Sledge followup slower than in the previous loketest.
• Sledge followup has Fatal property.
• 5C air unblockable (can be barrier guarded).

• Charge changed to 214D.
• Magnetism pull stronger.
• 6[A] pulls in during hold.
• A Driver combos into Gadget.
• Sledge followup faster and moves him forward.

• Atomic Collider has increased same move proration.
• 6A is now chargeable, with magnetic pull during charge time. Can be charged even when comboed into.
• 6A is no longer jump cancellable.
• 5D pulls magnetized opponents in more.
• Tager’s hit collision box has gotten even smaller making him less of a huge target. 

• 6B causes stun. No followup without RC.
• 5B level increased.

• Furinkazan ground movement is shorter.

• 5B starts up slower.
• 2C starts up slower.
• 2B>5B gatling added. (cannot re-gatling into 2B)
• Heavenly Phoenix no longer wall bounces.
• 3C is ground techable. 2363214C no longer follows up.
• Ashura Distortion Drive now starts up much slower but is invincible until it activates.

• 3C launches higher, techable. Can combo into jB if close enough.
• 8D air-unblockable again (barrier works).
• 5C CH proration still same, 8D has different same-move proration on the clap and wave, so it does more damage.

• Anima has super armor, flashes red when hit.
• 3C hits downed enemy towards you. Can combo afterwards.
• 8D breaks primer, air blockable, interruptable.

• 2B>5B gatling added. (cannot re-input 2B)
• Untechable time on Nirvana’s moves have been shortened.
• Nirvana’s gauge recovers slower.

• Cresent bounces higher, loop easier. More proration. Longer untechable time, much easier to combo.
• Act Parser A goes through opponent if close enough. Puts Lambda in counter state. Can be used to escape the corner easily.
• C moves have less proration, C>6C loop does more damage.
• Gravity is better than it was.
• 5D, 6D, 4D have more... something. Startup? Active frames? I don't know, I don't have the source.
• 6A buffed a lot.
• Throw only combos into dash 2D. 

• 4B faster, less recovery.
• Sickle faster, less recovery, hits 6 times.
• 214 moves changed to stun instead. CH is pretty long.
• Throw throws higher, harder to combo.
• 4D moves her backwards, harder to combo.
• Throw can't combo into 6A, can followup with 2D.

• Second hit of 5DD is slower.
• All drive moves have increased time between startup animation and blade summoning.

• Ouroboros gauge goes up one if guarded.
• 6A/6C downs opponent on hit.

• 5B 3C 214D~C doesn't connect anymore. Might be replaced with 5B 3C 214D~B since 3C lifts higher now?
• Chain doesn't replenish gauge on block.

• Ouroboros start’s up slower and travels slower.
• Ouroboros gauge takes longer to recover.
• 5B’s hit stun reduced. If 5B>3C is not inputted with incredibly fast timing it won’t combo.
• 3C now floats grounded opponents.

• Corner throw connects to 6C. Again. Might work with 214D too? 214B doesn't work. 214C works.
• C-Tsubasa (214C) can be charge-cancelled after the move. If she has a jump cancel left, she can do C-wings > j.D > air combo.
• Instant charge is gone. Seems like 5D just charges as CS1.
• 2D/5D/j.D all charge faster, though. 2 stocks off 22C finisher midscreen seems reasonable.
• 5D seems to recover faster, too
• 2D feels a lot slower to recover, was worried doing CC's.
• Charge counter-hit state is through the startup, move and recovery.
• 236D seems to have longer hit-stun/level upgrade.

• Grab no longer followable by 6C or 214D.
• Charge puts her in CH-able state.
• j236A faster, knocks upwards, actually usuable in combos. 
• All C moves are faster.
• Backthrow has less recovery, can combo afterwards in the corner.
• 3C -> 3C doesn't combo.
• Can't followup after 5D, jD, 6D.
• Renka changed to 236B. Wallbounces, can followup with 6C.
• Hotaru wallbounces, can followup with 6C.
• Enma lifts higher, harder to combo.
• Tsubaki slides, can only followup in corner.
• Changed to 5 primers.
• Slower magatama recovery.
• 6B damage increased.
• 623A cancelable during movement.
• MUGEN: after gauge depletes, will not increase for at least 6 seconds.
• Yukikaze: will only show superflash after a successful counter. Gauge depletes on use either way. AH still has superflash.

• 5D now instantly charges one stock of the install gauge on startup, but charges very slowly if held down.
• 2D starts to charge slowly but increases charge speed quickly over time if held down. Has more recovery time at the end.
• jD still charges at a flat rate. Charge speed has been increased.
• 5B damage increased.
• 6BB reaches further.
• 2BB>5BB gatlings added. (Cannot re-gatling into 2BB)
• 2C can be jump cancelled on guard.
• 2CC floats less. 2CC>5CC techable after the first 5C.
• 3C is ground techable.
• 236A start up time increased. Cannot be comboed into. Higher proration.
• 236C has increased invincibility on startup.
• 236236C has increased invincibility on start up.
• 214A and B no longer floats opponents.
• 214X has increased hit stun.
• Hitstun decreased on 623A counter hit. Can no longer follow up.
• 22D no longer wall bounces except on counter hit. Can be comboed into a 236D mid-screen or into normals in the corner.
• j236A has increased startup time. Can’t be comboed into.
• j236C has increased landing lag.
• Throw now causes slide, and the animation cannot be cancelled. 236D follows up after a throw in mid screen and can start a combo. In a corner, she can follow up normally.

• It is easier to combo out of an air throw.

• jCC > j236D > j214D combo hits. The orb from j236D hits an allows for combo follow up.
• New combo, 2A > 5BB > 2BB > 5CC > 214A > 22C > 3C.

• ItsuuA/B/C's 2nd hit will come out even on block (loses staff).
• 2nd hit of Itsuu breaks 1 primer.
• Can do Four Winds, 5D or 2D after the 2nd hit of Itsuu. He's not sure if it works on block.
• 2C 4D Haku Ippatsu xN = 4700

• N/A

• Overall damage decrease.
• Without her staff, 2B>5B gatling has been added.
• Recalling staff during a dash makes it return quicker.
• 3C with staff now ground techable.
• 6A with staff cannot be followed up unless rapid cancelled.
• 6B with or without staff doesn’t wall bounce.
• 4D slides. Follow ups only possible in the corner.
• 4D can’t be canceled.
• 6D can’t be canceled.
• 2C now combos into 4D out of the corner, or 2D and Haku in the corner.
• 6D’s hit stun decreased.
• jC without staff is now techable.
• jCC second hit removed.
• Can’t cancel moves into 41236D.
• Tsubame Gaeshi’s (623D) second hit (falling staff) happens quicker. If it hits, 6C won’t follow-up.
• All green can now be teched on air hit
• New Litchi combo in a corner: 2C > Haku > Chuu > Hatsu, A-Reach > Ippatsu > on-staff B, 6B > D > j.C > D-returns > land > 6C > Itsuu-C > aerial finisher.

• jC has more proration.
• fog can be comboed into, easier to tack on curses with meter.
• fog autoaims on the opponent, hits low.
• fog gives you 100% curse, probably can't use it to recurse afterwards.
• Backdash has more recovery.

• D bug falls faster, deals less damage.

• Overall damage decrease.
• Guarded drive moves add very little to curse gauge now.

• Level 3 drive moves have less untech time. 2C connects from L3 5D in the corner.
  
• Were you ever able to barrier guard cancel Makoto's Astral Vision move? Because I think he's saying they took that out.
• Makoto Dempsey Roll has less untech time.
• Opponent falls faster after Corona Upper.
• Can't cancel from neutral throw.
• 2C slower.
• Comet is slower.
• C Asteroid vision angle has been changed. Lightning Arrow combos gone.
• 5B air unblockable (barrier guard works).
• Parry spins on hit now.
• Shooting Star wall bounce removed.
• Big Bang damage has been reduced.

• N/A

• Parry cancel/loop removed.
• 5B starts up faster and can be jump cancelled on block.
• Second hit of jCC removed.

• 3C techable.
• 2C > 6C combos on standing.

• N/A

• N/A

• 6C doesn't wallbounce.
• Mondlicht has more proration, much less untech time.
• 2C slower, upper body invincibility starts later.
• Weiss Jägd only wallbounces in corner.
• 5C air unblockable (barrier guard works).
• Wolf jA has less proration.
• Weiss has less proration.
• 3C knocks opponent down further away, hard to follow up.
• Less untech time on Wolf jB. (welp byebye jB jB combos)
• Throw wallbounces, harder to combo.
• König Wolf cancel point is later.
• Sturm Wolf does less damage.
• Damage generally decreased.
• CA spins on hit, can followup in the corner only.

• N/A

• N/A

• N/A

• N/A

• N/A