Very cool! Great jam entry! Art style is cool as always, although I wish the camera angle was a lil more tilted to show off the 3D-ness of it (I assume it's 2D sprites in a 3D environment). Audio is okay but could be better. The arena clock/lily-pad is a cute and clever mechanic and probably going to be the most unique use of the theme AND limitation in the jam, great job there!
Obviously more enemy types and abilities would be nice, but it's jam so yeah, you did great!
Unsolicited Ideas; Maybe there should be a reason to step into the red area, like it powers up your shots but you still take damage. Slow down time?