Wish I could find something that describes the mechanics of wallsplats. What can and can't you do?
Also what is the limitation of launchers. Say I launch with something that's non tag cancelable (d/f+2), is it feasible to be able to do a tag cancelable launcher? Or does the game do some extreme pushback in that case?
You have to use a bound move after wall splats. and then follow up with whichever attack your character has that takes the most damage.
Using Leo as an example (since you use her): After a wall splat do b+2, 1+2. Then crouch and do her rising 1,4,1.
As far as launchers, you have to experiment. For instance, if I'm using Anna and do d/f+2, I can't switch with Nina. However, I can follow the d/b+2 launcher with her other d+3, 2 launcher and bring out nina. Then bound with Nina using ivory cutter and follow up with tag assault damage or whatever else. Each team is unique. You may have to test and experiment yourself.
Edit: Also figure out which moves your character(s) have that can wall splat the opponent when you're near a wall. With Leo, again, for example, if you have your back against the wall and your opponent is close by, use her f,f+1+2 grab and it'll wall splat the opponent. Follow that with up with what I said above.
Also, other tips. After you do Leo's f,f+2 or her d+4, 2+3 and hits the opponent, make sure to hold 1+2 right after the move connects. This will allow you to charge. And charged Leo is scary Leo.