One part of the problem is that the Moode Cloze question is not a "real" question but more like a mini-quiz, containing a number of questions, or "sub-questions". And since the Cloze question aims at containing a number of different sub-question types, it is really difficult to obtain at the same time the inherent characteristics of each of those sub-questions and to provide a user-friendly interface.
The solution I offered, a few years ago, was to first create all the needed sub-questions separately, place them into their own category and automatically build the Cloze question out of those sub-questions. For those Cloze questions containing a fairly large number and a variety of sub-questions, I found it to be a good solution. Since there has not been much interest in that solution I have not upgraded it to MOODLE 2.
Actually, at the moment, none of the solutions that have been proposed will allow retaining the full capacity of each individual sub-question in a user-friendly interface. As underlined by Tim this is far from being a trivial problem.
Joseph