It reminds me a little of the Millionaire computer game: you'd enter your guess for the $300 question, Regis would say you're right, the little animation comes up, then the camera swings out to a wide view of the set, Regis says that the next question is for $500, then zooms back in and now we're rolling. Every question being its own event, plus Richard shouting at you about how you have two wrongs [gag!] so the challenger now steps into frame to nominate, then the question is played, it adds up to feeling like being stuck in stop-and-go traffic. Three wrong consecutively and no lifelines/multiple choice as well as free range to guess are interesting mechanics that we haven't seen much of. Having to stop the action after every question is going to sap the energy of the game.
(Piling on Kevin's idea, I wouldn't allow for any patter during a category gauntlet, just a warning siren when there's two strikes. The red box categories fail to interest me at all, mainly because we have to stop the game to asplain it and to say who will lead and who will follow and so on.)
I wonder if they haven't made mention of a grand prize because there isn't one, and that you win whatever money you pile up by answering questions.