I've been invited to give feedback to all Parsons students, regarding your thesis projects.
Your project idea is clever and fun. The communication problem you've identified that exists between deaf children and their parents extends, I would suggest, to hearing children and deaf parents...and among hearing and hearing-impaired siblings and friends. Although this is a toy, I do believe its application can be wide-reaching. (We all need to play, right?)
Two very strong aspects of Bounce: you've opted to focus on young children (when learning is most rapid and long-lasting) and you've found a way to use the visual sense to inform the lack of hearing, i.e. you use pictures on fabric blocks to TEACH users of all ages how to learn American sign language.
I love the medium of toys, especially when there is an intention behind their use for the greater good.
Thank you! J.