This card is better than what I thought.
- You can use its first and second effect on the same turn. So if your opponent has 2 monsters and you control no monster, one Kiteroid can prevent damage from both monsters' attack. This is great for some decks like Metaphys, Yosenju, Yubel and of course stall burn deck
- The second effect is NOT once per duel
It is either "once per direct attack" or "once per copy of Kiteroid". Need more testing to clarify. But for sure it is not once per duel. I played against a Yosenju deck running 2 copies of Kiteroid and he was able to use the second effect twice.
I just tested using Burial from Different Dimension to bring banished Kiteroid back to graveyard, and ... ITS EFFECT CAN BE USED AGAIN. Now I believe that this card is definitely better than Bacon Saver.