That is really an excellent idea. Even with bold colored lettering, somehow people miss what certain things are suppose to represent. So how bout a Comentated and Subtitled Video, with little quizzes along the way, to see if people understand what is being said.
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Apart from all the obvious things that are missing from this Alpha footage. (obvious ='s things not yet implemented)
I can really appreciate the responsiveness of this new system.
-You can see what spells are being cast in the party list, you'll notice that the spells actually go off, with the timer.
-You can see that WS's are performed instantaneously
For the Party Fights in gereral, the UI is nicely laid out and useful. No sign of a "Threat" meter though.