Good job, once again!
I love this revamp of your game!
Gameplay-wise it's at least as good as the first one, and the new features rock, with particular reference to the level editor.
I'd like to report you a little bug that might be annoying while you are playing in level editor mode.
Here is how to reproduce it:
1. in level editor, put some items on the stage (e.g. some spikes, and the flag)
2. click "play" to start playing with your level
3. start drawing by clicking and holding left mouse button on the stage, and !!!while still holding left button!!! go out of the stage with the pointer
At this point, when you get back to the stage, the pointer will always be in "drawing" mode, no matter whether the mouse button is up or down.
My guess, this is due to a missed "onRelease()" event while your focus is out of the flash area. You may fix it by adding an additional code snippet to turn drawing mode off when the pointer is offscreen.
Anyway, this is a lil bug that shouldn't take long to fix, and as I said the game ROCKS, so keep up with the good work.
This is much better than the other one, good job! I love the new colors =D