I think Jago and Thunder are some pretty big problems for him. Spinal if he's played right, you can also give him a LOT of trouble. Gotta give mad respect to his slide though because it goes under Fulgore's F+HP. The damage you did is probably about right, I think it's fair. It makes up for his shortcomings (while I realize they aren't exactly noticeable at this early of a stage in his development) and seems right on par with Glacius damage wise. To be fair I think most of the cast with exception to Spinal has pretty wicked damage output. I think Fulgore's damage may seem a bit too much at first but I think it works out well considering you have to work quite a bit more to get your meter you know? Just my thoughts though.
With regards to giving opponents so much meter, I actually like it. It gives you a good reason to spam the fuck out of it when they have full meter, you can always switch things up using the light projectile to mess with peoples jump timing or you can totally fuck with people and sit there and charge til they get close and teleport to the opposite side and set up more mindgames making them wonder whether or not you're going to charge, shoot shit at them, or patiently wait for them to break down and start jumping and hit that air laser. Also, you can use Fulgore's heavy laser in footsies against Glacius since he's so damn tall. It gives people a reason to crouch to avoid pressure and fall victim to either jump ins or his overhead.