Here is the thing. Chameleon is not like the Ninja Turtles or Triborg, and even the Ninja Turtles and Triborg are two different cases. In IJ2, you can switch between the TMNT depending on the weapon Gear piece you equipped for the Turtle, and you would get that turtle with the right headband color, personality and quotes intact. Triborg does include all 4 Cyborgs in one character, but that's only because that according to his backstory (even though it's probably not canon as he is a DLC only character so far) the consciousnesses of Cyber Smoke, Cyrax, Sektor and Cyber Sub-Zero merged together to create Triborg. So he is essentially a collection of 4 entities in one body.
On the other hand, Chameleon is one entity with one consciousness who's appearance and abilities would change depending on the other (either his moves would change depending on the color he wears in MKT, or vice versa in MKA). So Chameleon can't just stick to one moveset/color/character for an entire match like TMNT or Triborg can, let alone fully represent other characters through him, because then not only it won't feel right for all of the other male Ninjas like Reptile, but for Chameleon himself as well.
Of course, that's not to say that Chameleon can't make it to MK11, nor that he shouldn't take advantage of the Kustom Variation system if he does make the cut. Obviously in MK11 he should still be a single entity with a single consciousness like he always was, with different skins that the player can pick for him, and I think the best way for him to be played is that players can change his moves via the Variations, and the color of his selected skin should change depending on the moves he uses just like in MKA. And that should be the case for the tournament-specific Variations as well, where he will have pre-set moves that can't be changed, just the color of his skin changes depending on the move. Of course that means that all of his moves can still be of just one Ninja, but that would be only because the player have chosen those moves for him.
That also means that he doesn't have to use just moves of other Ninjas that aren't in the MK11 roster, he can use moves that Scorpion and Sub-Zero can use too, even if it's just only one or two moves from each of them, or even moves of them from previous games that they don't have in MK11. That means that if Reptile, Rain, Ermac etc; do make the cut, Chameleon can make the cut as well.
