Awakenings were always present in the Ultimate Ninja/Narutimate Games. NUNS2 is no different, here are a list of characters awakening and their benefits. Note that it is not finished yet, me or Sandman will edit it once we get more info


Naruto Uzumaki
Awakening: Four Tails Mode
Health: 35%
Benefits: New Moveset, increased attack strength, hit stun decreases

Sakura Haruno
Awakening: Herculean Mode
Health: 45%
Benefits: Increased Attack


Kakashi Hatake
Awakening: Sharingan Mode
Benefits: Increased Stats



Yamato
Awakening: Wood Style Mode
Benefits:

Sai
Awakening: Super Beast Scroll Mode
Benefits:

Asuma Sarutobi
Awakening: Chakra Knife Mode
Benefits: New Moveset, Increased Attack

Shikamaru Nara
Awakening: Shadow Sewing Mode
Benefits:

Ino Yamanaka
Awakening: Covered with Flowers Mode
Benefits:

Chouji Akimichi
Awakening: Super Expansion Mode
Benefits: New Moveset, Decreased Hit Stun

Hinata Hyuga
Awakening: Lion Fist Mode
Benefits: Increased Attack and Speed, Chakra Draining

Kiba Inuzuka
Awakening: Fang Mode
Benefits:

Shino Aburame
Awakening: Beetle Mode
Benefits:

Maito Gai
Awakening: Eight Gates Mode
Benefits: Teleport Dashes, Increased Attack and Speed

Rock Lee
Awakening: Same as Gai's
Benefits: Same as Gai's

Neji Hyuga
Awakening: Byakugan Mode
Benefits: Chakra Draining

Tenten
Awakening: Weapon Mode
Benefits:

Sasuke Uchiha (Single Spear+Kirin)
Awakening: Cursed Seal Lvl 2
Benefits: New Moveset, Increased Attack

Kabuto Yakushi
Awakening: Chakra Scalpel Mode
Benefits: Increased Attack

Orochimaru
Awakening: Sanin Mode
Benefits:

Jiraiya
Awakening: Sage Mode
Benefits:

Tsunade
Awakening: Sanin Mode
Benefits:

Suigetsu
Awakening: Body Structure Mode
Benefits:

Karin
Awakening: Hidden Emotion Mode
Benefits:

Juugo
Awakening: Curse Seal Mode
Benefits: New Moveset, Hit Stun decreases, Increased Attack

Sasuke Uchiha (Taka)
Awakening: Mangekyou Mode
Benefits: New Jutsu, Increased Stats

Gaara
Awakening: Kazekage Mode
Benefits: Increased Range

Kankuro
Awakening: Puppets Mode
Benefits: New Moveset

Temari
Awakening: Wind Robe Mode
Benefits: Weapon Deflect

Chiyo
Awakening: 10 Puppets Mode
Benefits:

Itachi Uchiha
Awakening: Susanoo Mode
Benefits: New Moveset, New Jutsu, Decreased Hit stun Attack and Defense increase

Kisame Hoshigaki
Awakening: Samehada Mode
Benefits: Chakra Drain

Deidara
Awakening: Dragon Mode
Benefits: New Moveset, Decreased Hit Stun

Sasori
Awakening: True Form
Benefits: New Moveset

Hidan
Awakening: Cursed Body Mode
Benefits: Increased Attack

Kakuzu
Awakening: Thread Mode
Benefits: New Moveset

Tobi
Awakening: Madara Mode
Benefits: New Moveset

Pain
Awakening: God Mode
Benefits:

Konan
Awakening: Angel Mode
Benefits: New Moveset, Decreased Hit Stun

Killerbee
Awakening: Eight-Tails Mode
Benefits: New Moveset, Decreased Hit Stun

Sage Naruto/Hokage Naruto
Awakening: Six Tails Mode
Health: 35%
Benefits: New Moveset, Increased Attack, Decreased Hit Stun

Minato Namikaze
Awakening: Flash Mode
Benefits: Teleport Dashes

Lars Alexandersson
Awakening: Lightning Claw Mode
Benefits: Increased Attack

Nice set of information; I can't help but point that you're missing some information. I hope you'll come to finish off this guide as you continue your research on this. Having this knowledge while the playing as the character should help some, especially becoming a huge tide turner.

btw, I'd rep you for this, but there isn't a rep system on this forums, sorry.