I don't get how this game works.
You probably do; it's just that the timing is too far off and to ultra-sensitive for it to be even so much as marginally playable, let alone fun.
His first mistake was making a rhythm-action game in Flash; the latency that it has on most PCs is lethal.
His second mistake was making it so simplistic; running one button for five minutes really doesn't constitute any kind of enjoyment for anyone with at least half a brain.
His third mistake was making the timing as unforgiving as brain surgery, while the latency and his poor programming throw it off both on the player's end and the game's.
Long story short, it's a buggy, sucky, Flash mini-game that people only like because LOLPONIES. If you remember, the curse of Sonic fangames was talentless kids attempting to make full-fledged platformers screwing around with Game Maker - while the curse of Pony fangames is incompetent programmers and designers trying to churn out meaningless, mindless micro-games fooling about with Flash. One fandom has a problem with over-ambition, over-complex development tools and sucky developers, and the other has problems with under-ambition, tools that clearly aren't good enough for the purpose and, again, sucky developers.
What we need is for someone with a modicum of actual talent to go "screw it" and make a proper Pony fangame using an at least semi-professional development kit, rather than useless animators who think that they have skills in video game design chucking out bland, clunky and generally rubbish iPod-grade mini-games using tools as useless and rudimentary as Flash.
Basically, what we need is more Fighting Is Magic and less Faithful Farmer.
But unfortunately, I really don't see that happening any time soon.