Well, in your example, there's 2 riptides w/ skyfire and Interceptor, firing S7 ap2 shots around, not to mention a flier. The rest need to snap shot, but sheer weight of firepower should let me ground MCs.
As for the Crisis Suits, doing that requires me to use allies, not formations. That means an HQ, troops, etc. The Formation grants everything Tank Hunter and PE: Marines, and Marines gets Hatred against them.
So basically other than the riptides and a single AV 10 flyer you don't have much to stop even Hive Tyrants much less multiple Nurgle daemons with 2+ jink save. Or perhaps a Screamerstar, the list isn't bad at all but what to do when you run up against a particularly resilient enemy?
As it stands even a mounted Seer Council can not only reach you quickly, but dismantle your army piece by piece.
I would consider giving the Knight 2 Bright lances, and the sword+sheild and give the Farseer the Wraithforge gem, that way you can at least tie up super units like the Screamer star and heal off wounds allowing you to dismantle the rest of the list.
I would also look at getting something other than just a 2+ armor save or a 4+ cover save, especially since a enemy Riptide could instakill a squad of broadsides each turn PER riptide. A landing pad or some void sheilds would go a long way to keeping you alive.
I don't know anything about formations though, Tank hunters on all that Str 7 sounds amazing, what book is that from.
Edit: Because you have all that Tank Hunters you don't need a Fusion blaster on those Riptides, a SMS would be better for people cowering out of LOS like enemy Jetbikers.