You'll want to distinguish which trigger is executing the macro, and perform different actions accordingly. You'll probably also want to handle the scenario of your turning the screen on, within the 10 second period after you turn it off (to avoid having the home screen displayed while you're in the middle of an app).
You could also try a shorter scheme, without the need for a stopwatch or its stopwatch trigger:
I think the Cancel Macro Actions action cancels all occurrences of a given macro, not just the currently-running one. If not, this won't work.