I'm also having trouble with this but I'm doing exactly this up up right right left. Or north north east east west. I'm back in the area with the statue but there is nothing changed no monster shows up. I don't know what I'm doing wrong. If I can't figure it out I'll capture some video to show you what I'm doing maybe you can tell me what I'm doing wrong here.
Exactly this, the whole puzzle triggere me in a game mechanic and not telegraphed kind of way.
The player is not told to read the owl sign every time he messes mess up. The player is not told that a loop into the centry forest area is actualy right. And to top it off the directions are wrong or misleading at least.
You Sir, helped me!