Love the idea behind this! I'm always excited when a game forces me to use my health as an active resource instead of something to horde, and it was a great way to put a spin on a classic arcade game. 'Glass cannon' was a great cliche choice for this, too.
The screen shake when things blow up is a neat idea but disruptive in practice. I lose track of where I am for a second, which costs me precious life when there are other enemies on the screen.