Well I got a fair bit of time on my melons over the weekend - I have the sore palms to prove it (from nudging guys, get your minds out of the gutter).
I managed to get the rollovers a second time through and collect at the gobble hole. I can confirm that doing this gives you some new callouts (I won't spoil them), and also changes the 200 point lit up shot to a flashing lit shot that awards 300 per shot (not actually sure the value as I couldn't look up! But the sound dings 3 times instead of 2). The rollovers then continue to flash as if you were trying to complete them a second time. Unfortunately I only managed to collect one more then drained...
So the challenge is still on - collect the rollovers 3 times. It's bloody hard!