In exA label mode most of the slowdown looks like it was removed outside of Hyper mode (even here there is far less than in the original game) and some midboss patterns. It runs very fast overall. It reminds me of Futari Arrange mode in this regard.
The comparison to DFK BL is apt, with bees (and bomb items) cancelling bullets for score and hypers cancelling bullets (and a dedicated hyper button too). It also reminds me of the DOJ BL X-Mode on the X360 port.
In exA label mode, interestingly, hyper and bomb stock are not tied to your lives. So if you die, your hyper level and bomb stock do not go down. On the flip side, you only get one additional bomb when you die, so if you use up all your bombs early on (You start the game with 3 bombs), when you die you only have one bomb in stock. This is essentially the Ibara Kuro bomb replenishment system, with extra bomb carriers thrown in instead of bomb fragments in the stages. This and the bullet grazing are obvious features borrowed from Kuro, so this mode is basically a mix of DFK BL and Ibara Kuro overlaid on the SDOJ system. This reminds me of how CAVE overlaid Ketsui's system on DFK BL for Ketsui Arrange.
I've enjoyed watching the stream, and I saw a very good player get 85 billion up to Inbachi, but so far exA label mode doesn't interest me that much. But as always, the proof is in the pudding.