I have Nexus 7 2013 running stock KitKat 4.4.2 and running FPSE in Software HD mode
I am running into performance issues running final fantasy 7 only when certain particles are playing during the battle sequences. Particles that seem to have high volume and lots of different pixels with different levels of transparency (fire, smoke, some energy beams/blasts, the clouds separating in Neo Bahamuts summons) slow the game down to have speed or even lower. I wouldn't say this is a hardware or emulation restriction as these were not the bottlenecks before the last few patches and would very much like to have that level of performance back during those sections. I'm sure particles or similar game technologies would be sped up with a fix to this problem.
Now the rest of the game has actually sped up and become alot smoother and running the game in software HD, x4 resolution, with FXAA looks great! Keep up the good work!