This was something that bothered me a lot. After a while people learn to block standing.
My suggestion for this movement would be better:
1. It should be have quick as Roll, so we would have a real anti aerial, especially for meterless version.
2. Be less horizontal, sometimes the opponent pass over us without problems (perhaps it has to do with the speed).
3. The second hit should always connect.
Ex Torryuken is an incredible movement but these adjustments would be welcome.
Normal Torryuken is what really needs to be better.