I like your suggestions. However, as I mentioned before, this is the system I’m using for my own game so it’s a design choice I made not to include a timer and make it a 1 round fight only. The reason is because it felt too long match to have 3 rounds in a team of five. I skipped the timer because I noticed many players hit you few times then they start to avoid you, block and run away until the time expires. I like my game to be fast and very interactive. Fight is the only choice players have to win. That said I might add a timer in future updates.
I don’t use High/Mid/Low hit system. Instead it’s the type of hit that define what reaction an opponent should do. I think this is more accurate and precise. I have low kick and low punch (uppercut) but the system allow you to add as many hits as you want including air attacks.
Yes, they bounce instead of slide which is not great but that’s because characters have a capsule shape. There’s a work around (adding a triangle on top of character) to make them slide but when I did that I then had to increase the jump height to make characters jump over each others. My choice I just didn’t like that high jump. Again, I could add that in future update. (not for my game but for this system)
I would love to add as many general features as customers wants but I’m waiting to see how well it will be received first. Obviously if I get many fans supporting the project then yes I will do everything I can to implement all features they want 
Just to clarify things, this is not an animation asset. This a blueprint project. You can add as many animations, graphics, and even features as you want but I’m not selling the animations I’m selling the system.