I like it, and it's pretty simple once you get the hang of it.
1. First try three options, this can give you some basic idea about the word you're looking for, such as if it ends with -ing or -ted or some such common suffix.
2. Next, scour the lines and find all (), [] and {}. Click them all. Most of them will remove duds. Usually one will replenish your allowance of guesses back to four.
3. If you got your allowance repenished, you now have some idea about the word you're looking for and removed a ton of duds. You can easily finish.
4. If you didn't get your allowance replenished and aren't 100% on what you're looking for, just restart.
As minor minigames go, this is one of the better ones and it actually requires you to use a bit of your gray matter...