There are no bonuses to this spell, but there are a few definite drawbacks. When casted, there's a 2-3 second delay before enemies are hit. Any magic splash that falls from the sky is nerfed by speed anyway, but this is the most nerfed attack of them all. It's not rapidly damaging either; it's not any faster than Killer Beekeeper's splash magic.
Cubes of gold rain down from the sky to in front of the character in sets of four. Each set of four cubes is accompanied by a fly by of an oversized Golden Whale that swoops in from the top. Knocks enemies over and damages them (and can only hit an enemy that is knocked over once, no matter how many gold blocks or whales there are (bosses are an exception, seeing as they cannot be knocked over (exceptions for enemy minibosses e.g Conehead Groom))).
A double beam of tears quickly shot from Hatty's eyes as projectiles towards enemies. Does about 20 - 40 damage.
Hatty Hattington, as well as Bear and Saracen, have a unique RT+A+Y/A+RT+Y move that is different to the rest of their moveset. After pressing the buttons Hatty will throw a giant green gem to the ground, doing damage, ranging from 20-40. This attack is similar to Pink Knight's Stuffed Animals, but Hatty's gems don't critical hit enemies like the stuffed animals do.
Grows a pair of white feather wings and leaps up with an effect that damages overlapped enemies.
Hatty has the most gimped splash attack of any character in the game.
Hatty is an E Rank character. (E+)
Hatty is the one of the only characters with a dynamic magic projectile. (The others being Bear and Saracen)
Hatty's Magic attacks are references to his game of origin: BattleBlock Theater. The golden whale can be seen in the opening cutscene and a special arena mode called "Gold Grab", gems are collected to complete levels, and you can pick up wings as a power up that temporarily give you the ability to fly. As for the tears... well, according to a previous poll on the main page, Hatty is crying because if we looked like a wet roll of used toilet paper wearing a suit then we'd probably be crying too.
When in the select screen in the Arena game mode what should appear as Hatty's head appears as the head of the Blacksmith.