Oh god, that means Clowpy first led Utsuho to madness in order to acquire the Control Rod??!
I can see you were quite ambitious for trying to make a fighting game. Well here's my two cents about this:
-A fighting/action game is a very detailed kind of game, where feedback is very important, taking on the form of visual cues like hit effects, pain sprites, wind-up sprites.... and audio cues with of course hit sounds, whiffs, maybe some windup moves. And there's also the famed "hitstun", where a connected hit is paused for a couple frames to give the hit emphasis.
-If you want to put projectiles in a comboing game, consider putting in slow projectiles too which are easier to coordinate attacks with.
-The camera is important too. You might want to have only the characters at the edge of the screen and not capture the whole playable area, so that the characters' actions are more visible. In the case of a singleplayer action(/platformer) zoomed out camera is more acceptable as long as you can see what your character's doing. In your game, the actions were visible enough so no worries here.
What I'm trying to get across is: a fighting game in 3 days is bound to have only a small scope. Nevertheless, it's a good enough prototype you managed to get out in the time limit. I featured it in my video here~: