Just to say my opinion:
It doesn't matter if it's hard to pull off or not. If it's possible, it's pretty much 1/2 your hp done without any bars (to the best of my knowledge), while still being able to combo breaker, or even xray. If you get hit by this combo, you get into a serious disadvantage, it's possible to win, but it won't be that easy. In general you can't combo breaker, you're subjected of getting hit by this combo again after recovery (if baited correctly), it will hurt, and it doesn't help that Kitana is a good 'zoner' as well as a rushdown type of guy.
Of course it's possible to not be launched in this combo, and it isn't easily pulled off. But does it make it balanced because of those options? The damage is just simply high for no reason, the most damage I can do is with Cyber Sub Zero and t.hat's with X-Ray and requires corner (55%), meterless would be 38% (but requires good timing).
I'm not going to say Kitana needs to be nerfed in total, but that combo needs to be toned down to be combo breaker-able. I don't mind the damage, but I'd prefer being able to escape it. I wouldn't disagree or agree with toning down the damage, assuming it'll be combo breaker-able (assuming NRS does anything about it, which I doubt it would).
IMO: no jumping and dash block and don't let Kitana get away and Kitana will fall (which is my game plan anyways).