I'm trying to figure out what kind of character would use Air Dance.
By my read, it doesn't allow you to get more than 5 minor actions in a round. If it does, then it seems powerful for high-initiative, high-initiate characters, especially since Increase Reflexes is capped at 4 levels (though it somewhat weirdly gets a lot more powerful at the high end - initiate rating 9 is hard to get, but if you do you can get a lot of minor actions)
Assuming it obeys the 5 minor action cap, it's only useful if you have 4 or fewer minor actions before. Compared to Increase Reflexes, which grants 1 minor action, it costs .5 more power points, and also gives +1 to all reaction based rolls, and +4.5 average initiative. So, it's only better if it grants more than 1 minor actions on average, probably more like 2.
This means that it's actually only good if you have 3 or fewer minor actions by default, and are typically beating your enemies' initiatives by, assuming no initiation, around 20.
Except that if you have 3 or fewer minor actions, you have 2 or fewer initiative dice, and probably don't have reaction enhancement, so are unlikely to have initiative 20, let alone beat your enemies' initiative by 20. Even a reaction 2, intuition 2, 1 die enemy averages 7.5 initiative, enough that you need 27.5 initiative to get an average of 2 extra minor actions - beyond the reach of most 2-initiative-dice characters.
This gets even harder if you fight someone who's good at fighting - Cerberus Hounds average 18 initiative, wolves average 16, swat officers average 16, etc. None of these are really amazing initiative scores - Wildcats average 33.5 initiative, but the make it basically impossible to get multiple minor actions from air dance.
Air dance gets better with initiation - at grade 5, you only need to beat them by 10 to get 2 extra minor actions, at grade 9 you need to beat them by 2. But a) how many characters are grade 5+? B) that still doesn't do much for halfway decent enemies - with 2 initiative dice, you will rarely beat a swat officer by 10. C) how many grade 5+ adepts who want to invest 2.5 power points in minor actions aren't willing to up that to 3 to get Increase Reflexes for consistent 5 minors actions, and +9 average initiative, and 2 dice to defend yourself?