Really cool idea, very finicky interface. Feels a bit like patting your head and rubbing your belly.
If I might make a suggestion, perhaps you could tweak it such that the states in the top left (hold, hurt, bounce etc) are controlled by a button that advances each one position.
eg. triangle = hurt, square = hold, circle = bounce
Then you press the space bar and the new conditions are triangle = bounce, square = hurt, circle = hold
This would require designing levels with that sequence in mind, but I think would open a lot of possibilities and make the game faster/more playable.
Thanks!