Here is a quick and dirty list of the reversals that you can use to stop tick throw traps or escape block damage, etc:
Akuma- Uppercut, Teleport
Balrog- Buffalo Headbutt, Super
Blanka- Horizontal Ball (tick only), Vertical Ball (tick only), Super, Reverse Hop (Back+KKK)
Bison- Devil's Reverse (new!), Super
Cammy- Cannon Spike, Spin Knuckle, Super
Chun Li- Upkick, SBK, Super
DeeJay- Upkicks, Super, Machine Gun Upper, Dread Kicks
Dhalsim- Teleport, Super (new!)
E Honda- Heabutt, Butt Slam, Super, Oicho throw (tick attempts)
Fei Long- Flame kick, Chicken Kick, Super
Guile- Flash Kick, Super
Ken- Dragon Punch, Hurricane Kick, Super
Ryu- Dragon Punch, Super
Sagat- Tiger Uppercut, Super (new!)
T. Hawk- Tomahawk Buster, Super, Mexican Typhoon
Vega- Flip Kick, Backflip
Zangief- Spinning Piledriver, German Suplex (360+K), Super
Note: In ST you could NOT use Ken, Dhalsim, or Sagat's supers as a reversal due to a glitch. This has been fixed in HD Remix.