Great game. Seriously awesome.
Thanks to the better-signalled scoring system and nicer graphics in the bg this definitely beats #1.
I like how the multiplier system increases the feeling of tension when it's in the 50s or even the 100s as I had it in my 2nd game!
I played 2x for a highscore (coming 2nd in my 2nd attempt) and once for a lowscore. The latter table doesn't seem to be working though (I'm directed to rankz.armorbot.com/dreamLow/ ).
I like how the game changes a fair bit - with a lowscore, it's optimum to get everything - even if you pick up a few dreams in order to get the nightmare. With a highscore, avoidance and keeping the combo going become the highest priority - missing a few circles doesn't damage the score as much as failing either of those objectives would.
I personally would have liked a slightly shorter song, as well as more variation between sections. I liked the sprays of stars and the differentiation between, say the part with Os and tails and the parts where the nightmares were raining. I'd like to see further development and differentiation though.
The music was a cool pic.
The graphics could be further refined somewhat - the foreground action has a cool style, but the bg could be further cleaned up.
I did like the difficulty throughout - I never felt like missing a combo was the fault of your design - it was always seemingly possible to keep the combo going and breaks were - for the most part - my fault alone. (I would argue that the stalactites appearing with no warning can seem unfair on ocassion.
I would like the colour of our avatar to represent the time left to keep the combo rather than just pulsing with the music.
Also, I'd like an sfx for whenever the combo's broken (if it was over, say, 10 - to prevent it getting annoying) as well as an on-screen flash to signal our failure.
Great game. Seriously awesome. Could use a bit more refinement though...