Well it uses a move that looks similiar to a jc, but it really isn't. He interrupts you in an air-combo performed on him, counters you and smacks your ass to the floor.
I've found the only way to beat him on DMD to be just circling him and pinning him down with Kablooey. If he uses his teleport, parry him, it's really easy to do. Once you parried and he's stunned unload your combos on him: Eryx ist fast enough and does decent damage, but I prefer using Rebellion. No reason for that really.
When he is no longer stunned, detonate the set Kablooey-Darts and hit him again, he will be stunned for another second or two, so you can still climb the style-meter by at least one rank.
Note: Aquila and Osiris are practically useless against Drekavac and Dreamrunner, as are Ebony, Ivory and the Revenant.