Pro advice:

In the challenge-gameplay-mode "Extreme" there is a trick to be a lot faster (currently Im all time Nr.3): When it says "Hide!" you dont have to use your whole left hand to cover the device, you better just use your left thumb to cover the motion sensor on top of your iPhone. Helps a lot in terms of speed. Still the number one trap to fail is "Stop!". Espacially when youre going really fast.

Hope that helps and good luck to beat the record! Awesome game!

Jardon-21 about Flip It! Gyro Game, v1.1