I love this game, it's very promising. Considering the amount of feedback you get, I'm trying to be a bit more professional on two things:
I'm only halfway satisfied with the new design: The characters are much more expressive and appealing, but the style seems "half done", probably because of the missing contours. There could be at least some edge-shading to isolate foreground objects from the environment a little more. It's even observable on the main screen, where the title text feels like"bleeding" into the wooden background. However I like the trippy palette and I truly believe that things are heading the right way.
However I liked 4.4 Kay a LOT better: The new one has a very mature and resigned vibe - like she survived a tragedy and finds her peace by being the joy-pot of her acquaintances. That bubbly infantile grin felt much more revitalizing to look at, her current lack of that silly cartoonish smile makes her look more rational than her eccentric lines as the social fuel character would suggest. She shouldn't be just "KAY :-)", she should be "KAY XD" or "KAY =D" at least. Then she'd be 'kay. ;-P
By the way I started making a grunge blues track originally inspired by this game, I'll drop you a PM once I'm done if you're interested. Also, have you considered this aspect of the game? I'd be happy to help out with music and/or anything else that might come up if my discreet opinion's welcome.