Okay, I'm exaggerating when I say it's the least balanced as I haven't played all that many Guilty Gears, only AE, Slash, #R, and ^Core. However, for reasons beyond my comprehension, in GGX:AE as compared to the other three I've played...
(1) Chipp's 22H teleport has significantly fewer recovery frames, which means you can pull off shit like 262H3S as a nigh-instant crossup Air Beta Blade (due to the buffered 6). Its only giveaway is the double crouch before that, and then the very beginning of the teleport animation, but...
(2) ...to make up for that drawback you can fake out your opponent by popping out of a double-crouch into a Tiger Kneed Air Alpha Blade instead, since that has fewer startup frames than it does in the others.
(3) Of course Chipp can get a Banki Messai out of nearly any ground or air-to-ground combo (one example: IAD into H \/ (2K)x3 S [s 2S] 36236K, bracketed [s 2S] are for opponents against a wall), but in GGX:AE doing so is basically a guaranteed dizzy, especially if you add a couple 2Ks afterwards before they get up, which you can do even before a DP reversal.
(4) And he gains Tension more quickly with a simple dash (which he can easily do without being punished, with a little teleport and IAD trickery beforehand) than in any of the other aforementioned games, which fuels the aforementioned Banki Messai insanity.
(?) To top it all off, I think his health isn't quite as low relative to the other characters (notably Millia, who's normally similar in speed and health) as it usually is. Not sure about this one, though. Haven't played in a while.
I guess, since AE is chronologically the earliest of the games I've played, Chipp's teleport and Banki Messai and even Air Alpha Blade may have been like that in all the games before it as well. I wouldn't know. But whatever the case, in GGX:AE it ends up being pretty ridiculous since on the tiny GBA screen (1)+(2) creates a crossup mixup option that is nearly impossible to beat on reaction, guarantees you enough time to take advantage of (4), and thus opens the way for (3). Since AE has no Burst you're thus pretty much screwed the moment Chipp lands any decent hit, at that point; the combo in (3), for example, is a guaranteed dizzy on almost any character save Potemkin IIRC (and the against-the-wall version with the two extra hits dizzies Potemkin too if you add a 2K after the Banki Messai), and from a dizzy Chipp can do a simple 41236K 2S 623S 4-hit combo for a Zansei Rouga's worth of damage. That's about 100% of several characters' health bars off a single aerial Heavy Slash.
He's pretty insane.
EDIT: Oh, it just occurred to me that I forgot to mention his corner infinite: after an IAD->H (2-hit), loop c.S>f.S>H>IAD>j.K>j.K>K forever.