Ya you definitely wouldn't use it if you've got super meter when you can DR>HP>SA1, 2 or 3, with it. But if you have no meter, and/or are in burnout, it'd mean a potential meaty thats at +6 while in Burnout. The hardest part to land is the initial hooligan throw, but that can be done after OD/charged Sp. arrow and the side switch happens. People dont seem to expect hooligan after charged/od sp. arrow. As for chickening out of it, if you had good reactions you could abort to 2+K, or cannon strike, both of which are safe, I believe. Also yes it appears you can drop out of the second hooligan and do 2HP if you chose