hmmm the concept of using TR to cancel TR is kind of... well I mean I made an Alakazam + Gengar leads that pulled off the same idea but like... you'd generally need really good prediction, since you'd want to cancel TR as soon as it was used, meaning on the exact same turn they used it, which is rather difficult since you might end up accidentally setting it up for them, I mean you could just TR the next turn, but that's if you survive long enough to do that
What ever happened to Fake Out leads... I guess they became less necessary as Kyogre auto weathers? :/
Fake out is still usable, especially against auto-weathers - it can reduce Water Spout's power and allow Kyogre to be hit with Grass Knot/Wood Hammer/whatever. However, that can also be taken care of with a Togekiss or other Follow Me user, which I've found to be VERY useful.
TR users are still fairly predictable: Dusknoir, Cresselia, Bronzong, and, to a lesser extent, Dialga (every Dialga I've seen has used it, lead or not; the problem is, you don't know what Dialga's going to do until it does something) are the common ones I've seen or personally used. Of those four, Bronzong (and maybe Dusknoir, I forget) can be OHKO'd by a full power Water Spout/Eruption. The problem is who they're partnered with - you can use a Taunter and something with Fake Out (ie Mewtwo/Infernape combo), but that assumes you don't have to deal with Follow Me, which will ensure that TR goes off.