Why "Blayzbloo"? Arc System Works differentiated the DSiWare game from the original title by spelling "BlazBlue" in Japanese hiragana, rather than the English alphabet used for the main series. To preserve the change without using a different writing system, Aksys spelled it differently. It's pretty whimsical.
Speaking of whimsy, the ESRB description of the arena fighting game describes the following modes: " last-man standing, hitting opponents to collect soba noodles, and capture-the-flag." We're contacting Aksys to find out when you'll be able to fight for noodles.