* The syntax does not use escape sequences for functions/symbols, i.e. phi instead of \phi or floor instead of \floor. You will inevitably run into situations where, for instance, you want to write the letters phi, and have to resort to some ugly hack to write the natural language. This is not okay.
* There is reasonable syntax for text-formatting in bulk (whole paragraphs), but if you want to format a single word or sentence, the syntax seems to involve way too much work.
A side concern: This uses a mix of markdown-style formatting (asterisks for bold text) and programming style formatting. Personally, I think this makes it difficult to visually parse complex documents.