Hmm, just looking this over once again. The one issue I'm seeing here is that if your first circuit was engaged, but your second was bypassed, and you were in "master bypass" mode, your guitar signal would experience the same type of tone suck as a entry level wah pedal. Your guitar would be loaded down since your signal would be seeing both the bypass AND the 1st circuits impedence at the same time.
Not sure if there's a way around that, I'll think it over some more. Putting a buffer in front of this would certainly cure the problem, but at the cost of no longer being a true bypass pedal.
Q: Why is a drummer like a scud missile?
A: Both are offensive and inaccurate.