"In the latest issue of ShortList.com's gaming magazine, an article that provides some juicy details on Street Fighter 5 was featured.
We learn that moves such as Nash's teleport and Chun-Li's double fireball can be used while V-Trigger is activated. In order to do so, players must fill up their V-Gauge by taking damage.
Additionally, we learn of a new mechanic called "V-Skill." This is a defensive mechanic that allows for characters like Ryu to parry and M. Bison to reflect fireballs. While information on V-Skill is scarce, we're guessing it also utilizes the V-Gauge."