Being a training mode monster, I feel the following should be considered:
Status Display
As Ghreg mentioned earlier, bring this back please. Despite its overall encrypted color coding display, on a base level it was simple to understand and revealed tons of info on normals, specials, ex's, jumps, shields and just about anything that involved a character moving on the screen. This was an excellent complement to frame data imo.
Unlimited Guard Meter
Also mention by Ghreg, run it back. This issue is more of a pet peeve than anything else really. It really just makes working w/ extended guard strings a bit less annoying. Having to reset the meters by forcing guard break becomes irritating after a while. Add in unlimited guard so we can press more buttons w/o interruptions.
More Jump Options
Include a jump forward and jump back option in addition to vertical jump (with pauses in between jumps!). Maybe even add in super jump 8 and super jump 9 as well. An option such as this would make testing for situations like air-to-air attacks or ground-to-air attacks easier to work with.
Jump From Hit/Gurad
As seen in KOF13. Have dummy jump in a direction after recovering (fully) from a hit or guard. Good way to test string viability and to check for frame advantage. Sure there are other methods to check for the former but having alternative testing methods doesnt hurt
Delayed Random Air Recovery
Have dummy air recover at random heights and in random directions when hit out of the air rather than teching always on the first possible frame.
Downed Recovery Random +plus
Have dummy randomly tech only after receiving damage from the FIRST otg string. Eg Aoko does throw>dummy will not tech>aoko connects first otg string>dummy randomly techs in random direction when string ends.
Recover Special
Just as you have Recover A, B, and C (coupled w/ state you can get jumping and crouching attacks as well), including an option to have dummy recover w/ command normals, BE normals and specials would prove useful.
Screen Position Reset
As seen in UMVC3. Screen resets meters and position on screen can be determined w/ reset + additional inputs (eg in left corner, in right corner)
Kamone Option
Have dummy guard FIRST attack high only then immediately crouch guard only. This obviously helps to test for fuzzy guard setups and to practice consistency w/ the followups when landing them . Would be much easier than doing a dummy recording and trying to synch up w/ the counter to emulate this imo.
Bunker Point (excessive)
Have dummy bunker at random points (w/o fail) during a guard string
Heat Option (excessive)
Have dummy (randomly) recover w/ reversal heat when standing from a down.
Input Display for Replays
Not related to training but it's nice to know what players are mashing on playbacks of replay recordings. Also helps to know where you may have messed up an input during your own matches.
My request: Call mauve.
^^^^^also this