FEW - So it's the same as in Warriors games.
SMO - It's an improvement then. Instant death from lava is so much better than watching Mario bouncing hopelessly until he runs out of health.
On second thought, I am not sure about lava anymore. Now I am leaning towards the typical bouncing for it. I am certain that the boiling pink soup in the food world has the bouncing, so if you had hoped for the bouncing to be gone in Odyssey, that's not the case anyway.