Good!
I've spent a lot of my time playing this, some things I'd like to see!
More Stages
Ability for more then 2 players hotseat, I know Online is impossible for you, and I also understand that the keyboard (and flash for that matter) doesn't like to respond to that many keys being hit at a time, but I'd still like it to be an option.
I miss Yoshi, and Ness, I get it, but I'm sad, same for peach and all that, but you're obviously a big sonic fan, tons of sonic characters, and that's great for being new.
Maybe balance some attacks, Mario and Luigi do way to much damage, with luigi I think it is fine as some of his moves screw him, but mario is pretty tough. The computer isn't smart enough to use Kirby like it should with the swaps, unlike Zelda, I think Zelda likes to for the aoe damage though, maybe if kirby's swap was slightly slower and did aoe damage it would choose to do it, but as a move that does zero damage it isn't getting much priority. Super Sonic is weaker then he probably should be. There are others, but those are the glaring ones. (Something I've noticed, Samus & C. Falcon on a team with lvl 9s seem to do un-naturally well, even against 2 over powered characters, that doesn't mean anything, but it was interesting to me as they don't do so hot individually.)
Overally this is very very well made. I know there are lots of complaints about the sky level, but thanks to how slow it is, I can't die there, so I like that. :D I would understand if you worked out a way to make it faster somehow, either by making it slightly slower, or changing some of the graphics to be less complex/impressive.
I hate race to the finish, but I finally figured out if I take it slow I can do it, I agree that maybe you should lower the bee damage, but meh.
Even if you are done and tired of working on this, (which I would totally understand) this is still a great game/flash. But more stages and updates would be sooo cool. Hope your next game is just as incredible.