To me it looks like he's breaking up the inputs like this in this sort of layered sequence....
View attachment 22135
2+FS
2 2 (janet punches) + Kameo (hold, to stop janet input)
bf2 + flipstance (causes split with the hold from above) <- input this like Ex BF2, but using flip stance instead (BF2+Flipstance)
Practice practice practice