Well I have not tested it
But it looks like it should
I mean he is stomping the ground
Ganon's Up-Tilt can knock someone off a ledge, but not spike.
The opponent gets knocked diagonally-downwards on low percentages, and diagonally upwards on high percentages. They can still recover quite easily.
Demo 2.6 removed Ness's Easter Egg. ;__;
And Charizard's Side-Taunt is different, I think. I don't remember if that was the same in 2.5b.