Version 2.03 (beta) ~ submitted to the Play Store
As you can see, most of the changes were prompted by YOU. Many thanks to all who tested and responded.
Changes → See screenshot below:
►Reduced sensitivity: by user request accidental app launches can be avoided by requiring shorter and more precise touches on bubbles for apps to be opened. Turn off option if it became too strict on your device
►Launch animation: renamed for clarity (animation when launching apps)
►Ambient mode got a section of its own (most important for OLED watches: ASUS, LG, Samsung)
►Hollow: bubble outlines only
►clock only: new feature only the clock bubble shows up in ambient mode on a black background for extreme power savings on OLED displays

Other changes in version 2.03:
►fixed the misaligned clock bubble in ambient mode
►if hollow bubbles are enabled, the bubbles are rearranged periodically to minimize burn in
►lighter color minute hand in the hollow clock bubble
►optimized battery-bubble updates (may be off by 1-2% sometimes, but reduces the impact on battery to almost 0)
►set the peek card partially transparent, so the bubbles show through beneath it

Please test, as as before, and if no major hold ups are found I am planning to release this into production with the disclaimer, that the Watch face launcher part should be treated as beta.