B1 is 11 frames now iirc? That means whenever she's in a +2 situation (ie Telecancels), any <9 frame normal will beat it, while some characters could already jump out (Kung Lao) or low-poke (Liu Kang) 100% safely. I think it's a fair nerf, but it should've come with a 1-2 frame extra advantage buff on tele-cancels.
50/50 armored is meh.. You can neutral or backjump all of her wake-up options and punish from there.
Tonfa toss being 0 means if your opponent can't do the punish tech they'll have a guaranteed option to get out of a situation you just wasted a bar on, I know I'll never use this ever again (I'd rather just full non-delay rekka into last EX rekka, which is gonna make her look even more one-dimensional), best alternative is to EX Teleport on block, which has counter options out the ass.
Her armor breaking potential is close to none, she could break with b1 (which takes around... 15-17 frames?) as much as any other character.
EX Rekka is only used to break armor if she's capable of trading (think on an armored read, or during Quan's Dark Curse), she can't trade without armor. The smarter approach would have been to make her armored Rekkas and the ones after that more minus, instead it's nerfed to input-error status.
Movement and mobility is ok... no invincibility on her teleports so she's at risk closing gaps or general air-game, having f2 to whiff punish is nice but then again, it's baited the same way you bait her armor. She may be controlling the space but that doesn't mean she's strong everywhere.
Also man, braindead crazy stupidly godlike? Sounds like someone's holding a gun to your head.
She's definitely not a top 3 pressure character, definitely not top 10 either, exclusively pre-KP2 netcode and on release she was.
edit: it's good offense is being toned down, I simply would've preferred if it was applied to other variations as well, it's like the skilled players are getting punished for playing their character well while the lesser skilled player gets rewarded when they can't get the best results in tournaments