In the adventure, there are a few places that refer to bonuses or penalties to rolls but don't indicate what those bonuses or penalties might be, for example, at area 2. Shaft - "Each player character must make a MOBILITY roll to climb down. A rope gives a bonus to the roll." Does this mean it gives a boon to the roll? Similarly, the stat block for The Lady states that she is "Persuadable: As opposed to most monsters, it is possible to PERSUADE a ghost, but with a penalty." Does this mean a bane?
Regarding initiative - I can see some potential problems with only having 10 cards with monsters that have more than one action per turn (which, by the way, is a feature that I think is excellent). I currently have a group that has six players, which would take up 6 cards, then say we encounter a monster with a speed of 3, along with another one with a speed of 2 and some minor types that only get one action per turn - that's 11 counts for the round. I don't know how the game scales at this point so maybe this is not something that happens, but even in the adventure it might be possible to be using all 10 if you use all the player characters and they befriend Grub and then encounter The Lady and The Death Knight at the same time (not a good time for the players, but possible), as they both have a speed of 2.
Related to initiative - I'm wondering how you handle this situation: the knight is up front fighting the spider. He goes first, but he wants to parry on his turn as his parry is better than his dodge, but he's not been attacked yet, so there's nothing to parry - does he ready an action and wait? Does he trade with the spider in the hopes that the spider will attack him with something he can parry? I like the one action per Round concept - I think combat will move along quite quickly, I just don't know how you make sure you get to do the things you want to do if that makes sense.
Regarding Parry - why isn't there a shield skill? Seems silly in a game that has parry not to have a skill that deals with it directly, especially when I can see sword and board warriors being quite useful. I guess using your weapon skill means you only have to skill up one skill - but you could also allow the shield to be used as a weapon to knock monsters down, or back. Just a thought.
My only other question, or comment, is that I would have liked a little more information in the quickstart on how the characters progress. Is this a levelled game? I didn't see a place for a character's level on the pregen sheets, so I'm thinking it's not. I see classes maybe (professions), but I really want to know more. I guess that's the main problem, I really want to get my hands on the book! Can't wait to see it. Love the art by the way too.
I assumed that penalty means bane (maybe a work in progress term that slipped the revision?), but yes, I see some term inconsistencies.
The game is meant to be played by 2 to 5 players (plus master).
That being said I get your point, but could the 10 cards limit be for balance purpose, to avoid too many enemy turns?
The knight can wait, swapping his initiative card with another character, either ally or foe (page 11).
Having a separated skill for shield feels to me like an unnecessary complication, considering how we already have plenty.
I read somewhere that there are no levels, but you can enhance the skills (in the quickstart is stated that "Roleplaying according to your Motivation allows your player character to increase their skills faster").