shun shun shun

I say go for it. Just give credit where credit is due.

^
 
It's not bad to do if that's what you want to do, but it is kinda bad/wrong to release it. You could always say what it is from the start, but spriteswaps have a negative rep for a few reasons. If you edited it further to not be just a spriteswap it wouldnt be so bad(adjust the clsns for the new sprites for example). Honestly giving credit to the original author is all you really need, but saying what it is is kind of important to avoid a ton of negative feedback.

This isn't something you ask at Request, but Mugen Discussion. Moved.   To answer your question, majority of people doesn't prefer spriteswaps.