You know, I really enjoy the concept behind this game, and I liked the fact that it made me think and stumped me on numerous occasions. But I got the feeling several other posters have noted - that there just isn't much "there" there. By the time I hit the midpoint of Round 2, I felt like things were just kinda droning on.
Just a thought here, and feel free to tear me to shreds on it, if necessary:
Round 1: Standard gameplay, one-word puzzles from 100 points on down.
Round 2: All Double Camouflage puzzles. Two-word puzzles from 200 points on down, and a correct answer gets you a crack at the answer within an answer to double the score. Lowest score leaves at the end of the round.
Round 3: Speed Camouflage. 3 minutes of timed gameplay. Point values start at 100 for the first puzzle, increasing in 20-point increments for subsequent puzzles. Points do not decrease as letters drop off. Correct answer gets the points; buzzing in with a wrong answer costs the player the puzzle's value, the answer is revealed, and play moves on to the next puzzle.
Bonus Round: I like it as is. It's different enough from the standard "Answer __ questions in __ seconds to win __ dollars," and the consolation prize is respectable. The only change I might make is allowing the player to pass one puzzle during part one of the round.
And, at the risk of having Mr. Lesko appear on my doorstep, I think playing for dollars instead of points should be considered. Unlike Lingo, this bonus round isn't a near-gimme, and there isn't any sort of escalating bonus jackpot. I would think that even if money was paid out in the front game, the budget would be fairly equal to Lingo's, and may even average out a bit under, given the potential forpoints/dollars being lost in the third round.