Well, it works this time, and it looks a bit better.
I still gotta restart every time I hit the water, though. That is quite annoying.
The timer and ring counter in the old version have disappeared though.
Graphics have improved, however, the background still looks very odd. It doesn't stretch all the way.
Also, is the light dash set to be used anytime, or only when there is a string of rings?
Finally, you have a decent engine, however, there is still something missing. The sense of speed is a bit lost. Try not to have the player go over such large gaps so early in the game. Keep things simple, and expand the level a bit, give us places to explore. Don't make it so linear, then it gets to be boring.