[Perdition]

I actually did some more testing.

https://gyazo.com/e08a6be3e4b855d6c2575b477abf1358

This is a before and after of my stats to test any interaction between Ele ATK and the skill.

[color=var(--text-link)]https://gyazo.com/03d6e266705c8f422a63f833757ac095
[/color]
As you can see I go from 21 lightning attack to 57.

OOC Rockstar's turn.
Prinny takes 36 Fire magical damage. (Elemental Rave / Belial)
Prinny takes 36 Ice magical damage. (Elemental Rave / Belial)
Prinny takes 36 Wind magical damage. (Elemental Rave / Belial)
Prinny takes 36 Lightning magical damage. (Elemental Rave / Belial)
Prinny takes 1 Slash magical damage. (Elemental Rave / Belial)
OOC Rockstar's turn.

However my damage remained this both times I tested the skill. Furthermore,

Prinny takes 36 Slash physical damage. (Elemental Rave / Belial)
Prinny takes 36 Slash physical damage. (Elemental Rave / Belial)
Prinny takes 36 Slash physical damage. (Elemental Rave / Belial)
Prinny takes 36 Slash physical damage. (Elemental Rave / Belial)
Prinny takes 1 Slash physical damage. (Elemental Rave / Belial)
OOC Rockstar's turn.

Testing the skill while grounded produces the -exact- same damage, just slash. So it doesn't look like going airborne does anything except change the damage from slash physical to elemental magical. Other than that the damage is the same, regardless of how I manipulate my elemental attack, in the air or on the ground.