For Player 1
Stop your pointer on "Spiral", then move your pointer to the following characters in order: Silver Samurai, Psylocke, Colossus, Iceman, Colossus, Cyclops, Wolverine, Omega Red, Silver Samurai.

Then wait 1 second and press Weak Kick + Fierce Punch + Fierce Kick.

For Player 2
Stop your pointer on Storm, then move your pointer to the following characters in order: Cyclops, Colossus, Iceman, Sentinel (turn left to go to this character), Omega Red, Wolverine, Psylocke, Silver Samurai, Spiral.

Then wait 1 second and press Weak Kick + Fierce Punch + Fierce Kick.

After performing this trick once, hold L + R + X + Y + Z and press Start on the continue screen. Akuma's name will appear on the list.