The giant screen in the Boxing Ring stage for Wii U reenacts the multiscreen effect seen in the arcade version of Punch-Out!! Looks like their aliases are displayed on the screen too.
By the way, today, October 23rd at 3 PM PST (October 23rd 11 PM UK time, October 24th 9 AM Sydney Time, we are streaming “Super Smash Bros. for Wii U: 50-Fact Extravaganza” (“Super Smash Bros. for Wii U: 50 Must-See Things”). You can watch the stream from the links below when it starts.
For Americas: http://www.nintendo.com/nintendo-direct/10-23-2014/
For Europe: http://www.nintendo.co.uk/Misc-/Nintendo-Direct/Latest-Nintendo-Direct/Nintendo-Direct-698557.html
For Oceania: http://www.nintendo.com.au/nintendodirect
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