I agree with you on pretty much all points, except for the Joker's face in the iconic "HAHAHA" panel. Although the Higgins-coloured version does as you say have that poignant "simultaneous laughing and crying" effect, I prefer Bolland's take on it. First, it makes sense that with the high concentration of blood vessels in the eyes, chemical damage would result in at least some bursting and bleeding. Second, whether or not it was Bolland's intent, I think the eye-bleeding fits with the nightmarishly red filter through which the Joker sees everything while wearing the hood, as well as with the cruel and violent way in which he perceives the world once he's removed the hood and seen his disfigured face.

Edited to add: I'm glad that the forthcoming Absolute edition will feature not only both coloured versions but also Moore's complete script. (They may as well publish the script because it was leaked a few years ago on Tumblr and before that, hard copies were readily available on eBay.) The script is a fascinating read in its own right, as it sheds light on Moore's intentions for the story, puts to rest the question of whether Batman kills Joker at the end (he doesn't, unless we insist on "death of the author" interpretations), and gives us yet more tidbits of Moore's dark humour (e.g. in the script the three sideshow dwarves are nicknamed Huey, Dewey and Louie).