Rejecting for a few key reasons. While none on their own would warrant this rejection, I think that these should all be worked on before re-submitting.
Firstly, this uses the cape spin timer in order to create the effect. Normally you should avoid using SMW's RAM to do things unless you're explicitly trying to do something with it. In this case, the cape spin timer should be irrelevant to the block/uberasm code, so you should opt to use a freeram based timer instead. Because the cape spin timer is used, when the player twirls their cape while standing on the ground, they get a spinning hop upwards. Also, if you fly into this block then the player's flight state gets removed and they begin to spin instead.
Secondly, this has buggy interaction with platform sprites. If the player gets the timer set from the block and proceeds to spin onto something like a gray platform, they will get stuck and be unable to jump off of it until the cape timer expires.
The last two things worth mentioning are much more minor but should still be considered. When I downloaded this block, I thought that it would give me a fixed number of auto-spin jumps, but since it's based on a timer this isn't the case. Mentioning that it would "give several spinjumps" implied that it was a fixed number (that could maybe be customized in the asm file). This should be clarified in a future submission (whether you say it's on a timer or it's a fixed number).
Lastly, this isn't SA-1 converted. Given how small of a submission this is, assuming you know how to convert it then you should do so. If not then that's fine, but it was worth bringing this up.
I think this could be an interesting block if done right, but it should definitely be fixed up before resubmission.