Was watching http://www.youtube.com/watch?v=0yvFNEWWVIU&feature=grec_index
Will try to find the spot again (20 min video), it looks like a Sol intercepts a Dizzy fish in the air with VV, see the green flash of FDC then lands into an attack.
There are a few clips from an older GG game (GGXX I think) where characters run lock-down in the corner and you see repeated green flashes.
I know Faust and I-No have movement uses and Chipp can perform an airdash -> 2j.K -> FDC -> j.HS crossup, but it looks like there is more potential in this technique.
If any move can be FDC'd, then you should be able to run in and do 5K -> 5S -> 5HS -> 5D(FDC) -> 66 .. etc
Has anyone experimented with this / done frame advantage or infinite tests?