Excellent
Well jmtb, it's pretty good. It's hard to pick out what's wrong with it.
I played it through once. And the "stargate" level was a pain. I would die without hitting the walls, it took forever to beat cause I kept freaking dying.
Also, this game is in serious need of an AS3 makeover. You seem to love effects and such, and what better way to add more effects than to upgrade it into a much faster script. Think about it. You could do 3000 particle particle effects, or bitmap distortion to distort the screen, or have spectrum effects be an obstacle in one level and have power downs that make the sound go crazy.
Think of the possibilities!