I'm not so certain Empyrea kills Millenia in time. Her first action is likely before Millenia, sure, but there's decent odds that both her actions won't be before Millenia. (EDIT: Okay my recollection was off on this one. Oh, well.) However, it doesn't actually matter, because Empyrea + Fenril can certainly 2HKO Millenia, and Fenril isn't that slow. As others have noted, once Millenia dies, team Zenon is extremely screwed (not knowing Zenon, but knowing that it lost to Empyrea before in a duel means that things won't go better here.)
Re the pools:
I think Millenia loses to Exdeath? I have some Exdeath HP respect, so I'm not sure SBE-> 2 Fallen Wings will do the job here (since Claws is bad due to Exdeath being multipart).
Rashidi loses to everybody, even if you have HP respect for him. Sure, his first action is fast, but he's not OHKOing anyone here, and the other side's first action should seal the deal for everyone else. (Okay, I guess he might beat Exdeath, depending on how you see OB turns-> normal RPG turns. I don't have Rashidi HP respect so the point is moot.) It's especially clear cut for Fenril - a team of 5 Fenrils all mysteriously in the front row vs. Rashidi are going to wipe the floor with him after his first turn even with no Tarot Cards.
I didn't play PS2 endgame so I can't say for sure, but Megid is holy elemental, right? Fenril has pretty decent Holy Resist (stat topic says .5, and the average of 44.7 sounds a little high to me), so it sounds like she might have a shot of taking down Rolf.
Imoen beats Red Wizard I think? She doesn't care about Ruse, and her status gets around RW's healing. Even if RW 2HKOs, she's got a good shot.