Much too easy
On paper, this game looks great - all the features are rock solid puzzle game pieces, some of which are downright unique. Presentation is astounding.
Problem is, just because you have made a great puzzle game engine doesn't mean you've made a good puzzle game - where are the puzzles? Not a single one of the puzzles in this game required me to think for longer than 20 seconds. There was one room I had to retry ten times only because the paths the ball was taking were thin enough the ball would occasionally bounce off of the wall straight backward and get stuck (probably a result of my pausing/unpausing too much, but still, when execution is more difficult than knowing how to solve the puzzle, there's a bit of a problem)
Again, the flash itself is awesome - I suggest you hook up with someone else who has proven himself as a puzzle maker and see if he can make something truly great out of this.
Oh, and the time reversal thing didn't really pan out all that well in my opinion... there were only two levels where picking the right time to reverse was actually interesting; everywhere else it was "grab as many orbs as you can, then reverse and repeat with impunity." Maybe if you had a display of how many time reversals (or how much time in seconds you can reverse total) per level you could do more with it...