Vice got a new MAX2 (called, amusingly enough, "Cannibal Corpse"), which is very much like Freeman's counter DM, only much more... well, gross. Her old MAX2, Overkill, is now an air grab DM.
Mature has a new B version whiplash throw, which angles straight out instead of slightly down. If it hits, it pulls the opponent closer.
Kensou, Takuma and Robert have EX versions.
Geese also has a Nightmare Geese mode, which is so overpowered that it's genuinely funny to watch in action. His old-style Raging Dead End, where he throws a whole shitload of Shippuukens on a prone opponent, has been renamed and is now an SDM-only move. The SDM Raging Storm is actually more of an altered Deadly Rave which is shorter and finishes with the big, wide red cage. The new MAX2 is now entitled the Raging Dead End, and causes his hands to blaze with blue energy. This affects his counters. If he lands a successful counter, then it goes into full effect, and he stuns the opponent, shoulders down the top of his gi or whatnot, then launches a huge flurry of Reppukens, which build into a half-screen-filling wave of energy, then caps it off with the Deadly Rave finisher, laden with a boatload of special effects. He can also throw a Shippuuken or Double Shippuuken twice per jump. The Jaeiken is the blazing grab version. It's utterly ridiculous, and extremely funny to watch.
K' has a brand-new followup to the Ein Trigger, which is a simple flaming/flying kick.
Benimaru finally has that followup to the Benimaru Koreda. And his MAX2 seems to be a snarky reference to the bug in CvS1 when he'd get hit out of his Raijinken and the ball of electricity would stick around for awhile, still doing damage. Done with any of the four buttons, you choose where you want the ball to appear (head/feet, front/back). No time limit on it, but it seems to hit a specific number of times.
Orochi Chris' qcfx2+P DM is reworked. He no longer travels with the orb of fire, but instead launches it, where it travels slowly.
Unlike the original 2002, MAX2s seem to actually serve some purpose, instead of just being there as a novelty. The new ones are pretty entertaining, for the most part.
And I think that's it for updates/observations. No one seems to be particularly interested in the game but me. Too bad. There's a lot of love and care put into this one.