Besides messing with his awareness of space, or perhaps moving him through space, it was also messing with his concept of time. He only felt like a few hours had passed, at most. Only when the strange feedback he got from being awake and asleep at the same time distracted him from his environment did he realize that, in fact, he had already spent days inside the hole.
For others, Lex imagined that the difficulty of the hole would be the strange creatures that blended perfectly within the darkness, remaining completely undetected. It was a fair assumption, since they were also fairly powerful, almost reaching the Golden core level, not to mention their fangs and claws all contained a powerful poison.