Questions

Isn't it possible for a player to abuse this by revealing their pseudonym to their friends, to vote for it?
Yes, it is. This is a fine example of poopyheadness, as explained in the conduct section.

Won't you have an advantage over the others when giving gifts to your friends.
Yes, this is unavoidable unless your target is annonymous, which is technically possible with annonymous post boxes, or dropoff points or passing all gifts through the Director. These are a lot of trouble, and I don't think worth it for a trial game. There should be some normalisation in the fact that you're making for three people, not one.

An hour a week?
Well, that's more of a lower bound, you're welcome to spend every waking moment playing, but I would at least suggest taking time out to eat and sleep.

Won't this end up costing quite a bit, even with your guidelines?
Maybe, it's a bit of a trial. I don't expect people to spend more than a pound or so on materials for each gift, which works out at about three pounds a week, which is about the same cost as some university societies.

I am taking this seriously! My secret mafia of players will take over the game and ensure a winner between us!
Stop it. Stop it now. You are not going to take this seriously, you platypus.

How about changing the scoring? How about just doing one big secret santa round, how about my idea?
This is a trial game, I want to see how it goes. One big round would be fun, it'd be like the world's biggest secret santa... but I've done secret santa before, I want to see how this goes. Cumulative scoring is nice, but if it doesn't reset, the people with lower scores will struggle in later rounds and get bored or drop out. Knockout loses people early who still want fun. Hey, if this is successful I'm sure we'll do it again with new rules.

Will there be bonus points?
It's a fun idea, probably each round, the Director may assign bonus points for special tasks.