The main thing we have to go off of at this point is that the special effect is blue rather than gold. Why? Color usually means something in this game, so the fact that it's blue makes me want to believe that its effect is different than the typical 5% damage buff we're familiar with. I'm also curious about where in our 2 minute rotation it's supposed to fit. There's very little to go off of course, but I'm going to throw out an idea...

I think this new Step will share a recast timer with Standard Step, be a 2-step dance, and have the same DPS potency while granting a different effect. This would make the dance interchangeable with Standard Step, which works out nicely since Standard Finish lasts 60 seconds despite Standard Step being used on CD. This means we could possibly take advantage of those otherwise useless additional 30 seconds (though they are nice for holding onto the buff between pulls/phases otherwise), and give us some other form of utility to weave into our rotation when we see fit. For that reason, I believe this will have a more defensive form of utility (maybe only 30 seconds, or possibly even less depending since it likely won't be something designed to be maintained throughout the fight like Standard Finish is).

Here are some ideas:
1. Defense Up +5-10% for 15-30 seconds (it's a really boring option that I'm not a huge fan of, but it's the most straightforward possibility). You could also stack this with Shield Samba for additional mitigation. Too much for a DPS? Possibly, though they did put a pretty massive emphasis on barriers/defenses throughout the benchmark (New barriers for PLD, SGE, AST, and probably SCH along with upgrades to Blackest Night and Divine Benison). It could be that they're trying to up the damage finally but are trying to be more cautious about it?

2. Lost Sprint effect. This one's more wishful thinking, though not all of you might like the idea. Bozja's Lost Sprint speed is something I became really fond of and is an interesting way to approach defensive utility indirectly. It helps your party position themselves theoretically, but doesn't offer any actual value when receiving a hit.

3. Some kind of debuff on enemies in range rather than on allies. Dancer has historically always been a very debuff-heavy support in Final Fantasy, something that's unusually absent from FFXIV, so perhaps they could be trying some sort of damage down on enemies to foil the damage up Standard and Technical buffs. It's pretty similar to option 1, but I like this more on a thematic level and feels like it makes even more sense with the color scheme, though personally I'd like to see a bit more of an interesting debuff like Slow.

I think it could be taken in any number of directions, but what do you think about something along these lines?