Before anyone throws tomatoes at me, rest assured, that's not the actual name of the armour in question. It really doesn't have a name as of now (though I don't want to go with "Transmetal").
The whole thing was inspired by Digimon Tamers with their badass transformations (at least, they LOOK badass). There are other sources too, but DT gets most of the credit.
Backstory: This armour (or rather armours) was created by Dr. Cossack and BB (Brain Bot, from the cartoon). Not only does it offer extra strength and speed to the robots wearing it, it protects their identities to a degree. Because it's for the most part, however, untested, there may be dire consequences to getting severely injured whilst using it (as if writhing in pain isn't enough) or tampering with it.
Unlike Mega's Cross system, armours usually have only one added "feature" to them. It's more useful for disguise. Wouldn't work on Wily, of course--after all, he must hear the Light family's voices in his nightmares--but if they had to go up against some new evil scientist or alien force and DIDN'T want to risk being recognized on the news or something, these armours might come in handy. They could still be followed, but it would be to Cossack's base of operations and not Light's, and Roll might spot them before they even reach Cossack.
Megaman: [Purple and gold] Not much to say here, other than a more powerful charged shot. Sliding is not recommended.
Protoman: [Yellow with blue horn things] His armour is based off of the Helio Breaker from B.Daman. That guy was a bitch to put together... The horn-things are mostly face guards. Proto's visor is able to scan his surroundings, catching small details most of the others can't see. [This is not the same as Roll's visor] His shield (not pictured) is much larger and can shoot out low-powered plasma rounds from a cannon built in, much Vajrilla FF's or an unrelated bad guy's (One Piece's Don Krieg). It's heavier, though, requiring two people to lift it.
Roll: [next to Proto] Yes, that's Roll. Her armour is lighter than the others', allowing her to jump higher (but at the cost of increased stamina). The biggest advantage she gains is her visor, which, while it doesn't pick up every little smidgy detail of the enviroment like Proto's, it can detect incoming enemies or enemy fire. Very useful for making sure you're not being followed.
Shadowman: He's a special case in that he'd never get the "Ultra Armour" under normal conditions, but something comes up that requires the master of shadows to join the Lights. Shadowman on his own is fast as lightning--with this armour, he's able to become a Mechaniloid-killing white-and-purple blur. The problem is that moving at such speeds greatly damages his body over time, so he has to be careful. [NINJA STEALTH!]
Fan: Same as Mega's, but he exchanges his previous Buster (Fan Buster?) for something more flame-based. A Fire Buster, if you will...whatever Fireman uses in place of hands. [His hair reminds me of Raditz's...]
X: Look familiar? Yep, it's the armour from X1. A bit of alluding to the X series. X can hover and his plasma shots are more powerful (DAMN I can't spell today), but the armour itself is light.
Dub: Guns? Check. Heavy-duty armour? Check. But despite the "upgrade", Dub is still a kid robot and his accuracy is rather hit-and-miss. But hey, that Vulcan is pretty strong for a armour designed for a little kid...yeah. Cossack, check their ages. Please.
Bass: Treble Boost without the jet engines or purple. Having extra power AND Treble at his side can prove to be very helpful later on. Unsurpisingly, he's slowed down significantly. At least it's better than wearing the Megazord armour again, huh?
Normally I colour stuff with the Photoshopmobile, but this time I thought "Since you've got too much time on your hands, why not bust out the Prismas?"
Fan was based off of the beta design for Ryuusei no Rockman's "Leo" transformation; Shadowman off of EXE's CF Shadow-Miyabi. With the exception of Fan and Dub, no one retains their previous colour schemes (unless you count the gold parts of Bass's armour).
Characters (C) Capcom
Dub, art (C) Me