I wrote a simple xposed module to wake the device with the PowerUp button.
1. Install xposed: http://dl.xposed.info/latest.apk (http://forum.xda-developers.com/show....php?t=1574401)
2. Install the WakeVolUp.apk: http://tinyurl.com/ppxhf3v/Xposed_WakeVolUp.apk
EDIT: New version: http://tinyurl.com/ppxhf3v/WakeVol2.apk
3. Enable the WakeVolUp module from the Xposed menu
It should save some "power button clicks" until the flip cover is out