You are completely right. Coyote time is the seconds from a ledge that you still can jump - there is also another one that i'd have liked to implement called jump buffering - that's when you want to jump continuously, so the game considers your jump button press even when you're still on the air (a few miliseconds before touching the ground from a previous jump).
Those are two things that I already set on learning how to implement efficiently to have under my belt for whenever I want/need to build another platformer.
Thanks a lot for reviewing! And the feedback for the transitions between abilites is completely on point here.
Thank you also for the kind words! It means a lot.