Fun little experiment :-)
I was able to get a 3d effect where the negative space 'pops in' and the walls 'pop out', but the player character, and level elements that seemed to behave like 'elevators' and maybe 'jump pads', only showed up as a bare wobble, too invisible to get a feel for how to properly interact with them.
I tried the noise movement options but I found the normal/maximum movement induced the stereogram effect most effectively. The visibility aid helped me see the player character easily but the level elements were still hard to find/judge the positions of.