One or more of: tired, nauseous, headache, light-headed, and/or decreased-responsiveness (like narcd). Similar symptoms to being dehydrated. Tired is probably the most common symptom, which usually hits me after I get back to the boat.
After being much, much, much slower during my 15-0 ascents and avoiding depths greater than 30ft, these "bounce dives" haven't really been much of a problem recently, even if I surface more times than I used to. If I "bounce" many times, I'm usually sticking 20ft or less.
Think of it like being slapped on the arm. A single moderate-slap is annoying, but not a big deal. 20 moderate slaps in a row will probably cause a bruise. However, 20 very light slaps may be equivalent to a single moderate slap.
The goal is to minimize rapid and repeated pressure-changes. If you are increasing frequency, you can somewhat mitigate by reducing the severity. That said, there is still some level of danger (see jvogt's post above) so don't overdo it, so maybe start with 3 times on a couple and see how your body responds. Then slowly ramp up.
You'll also want to "master" bouyancy control and neutral bouyancy since remaining neutral is many times harder near the surface, and the goal is to surface very slowly. I usually start slightly negative, and then fin-up, and orally-inflate only a little bit on the surface, if I intend to go back down almost immediately.