hmmmm, if you do jump forward can you do a Diamond Drop instead? or would that give the opponent enough time to jump away from it?
Yeah, you can totally jump forward and do Diamond Drop or a standard grab if you feel like it. Jumping either up or forward puts you in Showstopper range, so it doesn't matter much if you want to do that. Haven't been able to work Grab Bag into it, though.
I've been experimenting a lot more with this reset, and I'm finding a ton of things that can change what you can link off j. HP and how high people recover, like whether or not you chain into the launcher with an OTG hit like I did in the video, and whether you use j. MP or j. MK. Also, there's the short jump cancels Dragonos451 described a while ago. That might make things interesting. I'll look into this some more and post the results here later.
EDIT: Finally got some lab time. Let's take a look:
If you launch off an OTG hit (e.g. Diamond Dynamo > OTG c. LK > c. MK), you have to use j. MP > j. HP because j. MK > j. HP will almost always cause the j. LP or j. LK to whiff.
If you launch a standing opponent, you have to use j. MP > j. HP if you jump straight up for Merry-Go-Rilla because jumping forward will make j. HP whiff over most characters. However, if you jump forward for something else, you have to use j. MK > j. HP because jumping straight up will cause the j. LP or j. LK to whiff.
Interestingly, c. MK > j. MK > j. HP > j. LP works on Bella and Parasoul if the launcher doesn't follow an OTG, but fails if it does. Easier than the normal version, but only without hitting OTG.
For Heavyweights, the setup in the video still works whether you use OTG or not, and whether you jump up or forward, or use j. MP or j. MK, or link into j. LP or j. LK (Doesn't work well with most of the other characters, though). Also, Eliza works much better with the Heavyweight version I described, and pretty much only that version.
Long story short, most of what I showed in the video still applies, but put Eliza in the Heavyweight category, and if you don't hit OTG, use j. MP if you jump straight up and j. MK if you jump forward.