J.E_Magog at the forums brought to our attention a video from Gamescom 2011 featuring live Armored Core V team play.
In the video, the commander (with a cool accent) tries to lead the team through the familiar Armored Core destroy-all-targets mission spiced up with co-op action.
The most interesting bit is the revelation of an ejection system triggering after your AC is destroyed. It’s still unclear if the jetpack guy has any abilities or if it’s simply a way for you to continue watching the mission. You can see this at 2:05 into the video.