So looking at the trailer again, I just noticed something massive.

Remember in the first trailer when Itsuki attacks the cloaked man with that ball of light?

That man is Chrom. In this trailer, more of that scene is revealed, and his cloak starts to disintegrate, revealing what is clearly Mirage Chrom's armor. Also, you can see him try to attack Itsuki with his sword arm. I always thought it was him since the first trailer because of his eyes, but this confirms it. This means that the figures in cloaks could all be mirages/"demon's" from Fire Emblem.

Watching it again with this in mind, you can tell that the woman choking Tsubasa is also a Mirage. Tsubasa's mirage, Caeda. You can see by her hand that she has the same exact armored gauntlet. Since this is presumably the beginning of the game, this is likely where they first meet.

Watching the trailer more, the ball of light that Itsuki uses to attack Chrom shines in just chest, then Tsubasa narrates the word "Performa," and then it cuts again to Itsuki finally slamming Chrom with this ball of light. This makes it obvious that this ball of light is Performa, and that Itsuki uses it to form a connection with Chrom. We see that Tsubasa also has an immense light glowing from her chest in the same scene. Since both Chrom and Caeda are shown later on friendly, but clearly in the same area, it's safe to assume that both Itsuki and Tsubasa "purify" their mirages and awaken their Performa at the same time, during this whole ordeal.

Itsuki awakens his first though, as there is a scene with a purified Chrom, but Tsubasa is still being choked in the background by the cloaked Caeda. I assume he purifies Chrom with his performa, they fend off some of the monsters in the hoods, and then Tsubasa awakens her performa and purifies Caeda.

Strangely enough, it is in this room that they first enter their Carnage forms in this room, as the trailer shows them both in this room getting ready to fend off more enemies.

Also, the guy in the yellow suit interviewing Tsubasa right before things go to shit is this guy:

Which probably means he's the first boss of the game after you purify Chrom and Caeda.. It also probably means that the demons or whatever can corrupt human beings and even turn them into monsters. Assumedly if their performa isn't powerful enough to protect them.

If you're right, and demons are in fact here in the game - capable of corrupting and purifying Mirages - this just made my day.

So, we're going to have Demons on top of Mirages...I wonder if Demons can fuse with Mirages, or if Mirages can get to act independently of their masters in battle...

I'm dialing down my expectations slightly, but I know what to expect now from the battle system, and the length. My greatest concern with the title was length, and they appear to have addressed it with this set of info, just hoping now that they introduce more playable characters.

I'm just using demons as a general term for "evil being." I don't specifically mean demons from SMT games.

So we can assume whoever is behind the Mirage attacks on the real world has enslaved/brainwashed the good mirages.  And also, that boss may be the result of some sort of forceful procession of sorts?  Using what Performa he has to enhance his power?  That would explain the twisted look.

They already said at E3 that those "demons" could corrupt human beings. Watch the treehouse footage near the end.

I never even considered the antagonists using performa. Good catch. I actually think it's some dark magic. Everyone who's evil has those triangle chains, and the mirages lose them when they become purified. When Tsubasa and Itsuki are being attacked, those chains are what are restraining them and Caeda's magic that she uses to choke tsubasa also has those triangles. I think it's just more of an evil magic, though evil perfoma sound much more interesting.

Well I do believe that Mirages harvesting performa for unknown reasons was mentioned before.  In which case it could be that Performa - which is merely the fuel for creativity here - is a kind of paranormal/supernatural power source in the Mirage's world.  We do see whole crowds drained of Performa in the Treehouse footage.  Which would make this a sort of resource war.  If you've ever seen Supernatural, there's a similar plotline with human souls being a power source for the supernatural realms.

This is so kawaii, how dare you call it "dark"? It's like Sailor Moon or Sakura Card Captor. :P

Also, if it wasn't obvious before, it is now. Each character has a corresponding color. The color flashed at the end of the trailor with each corresponding character.

Itsuki is blue. (teal)

Tsubasa is pink.

Toma is red.

Kiria is black. (purple)

Eleanora is green.

Mamori is yellow.

I don't know think that Barry, Maiko, or Tiki will ever have associated colors like this because they aren't playable characters and likely won't have carnage forms.

So yeah, now on top of being magic girls, they are also the friggin' Power Rangers. This game just gets better.

Seriously though, we need a white ranger.

Why "better"? It's the same stuff as ever : girls, kawaii voices, songs, sexy clothing and slice of life (all the goods things in fact) . There just happen to be some demons in the middle.