This is a great shmup!
Changing the colors every few waves and/or after you are defeated, was a nice touch!
Also, the laser beam ultimate when filling up the power bar was really cool. :D
Love the little screen shakes and the juice added to the game.
Also, not sure if it was part of the game, but the bullets blend into the background, making them hard to see. Though, if they go into your ship's light source, you can try dodging last minute.
An addictive game loop!