Alright, before the story actually begins there is somethings that need to be said. Yes, Krillin's power will be nerfed but he will eventually regain his power as the story progresses this way the battles can be interesting and not a one sided beat down. This story will also begin years before the events of the RWBY Series allowing Krillin to get adjusted to Remnant before the events of the RWBY Series begins.
If you are curious at more Dragon Ball characters or Dragon Ball elements appearing, yes they will appear as this is a DBZ X RWBY Story.