|This is one of the four really tricky spots in Loonyland. There is surely a specific combination that will get you through it, but I don't know what it is, and you don't need to know! It's easy if you understand what's going on. This level is a giant grid, like this:
Confused? The C's are the cranks, the S is where you start, the P is Pants Of Power, the E is the exit, and the rest of the level is a grid of open (O) and deadly (X) rooms. The cranks on the side pull all the X and O rooms in their row towards you by one space, moving the closest one to the end. The cranks on the bottom pull all the X and O rooms in their column down towards you by one space, putting the closest one up on top.
With that knowledge, the solution is simple - just create a vertical column of open rooms in the leftmost section (then walk up through that column to grab the Pants Of Power), then hit each side crank once more, so that your column is now on the rightmost end. Then walk up through it to the exit! The exit is in the upper right.
Okay, I changed my mind, the combination to solve it is so simple I can see it from the diagram: 2nd bottom crank once, 3rd side crank once, 4th side crank twice, grab pants, all side cranks once more each.
PS - this confuses some people, so I will mention it: the door at the lower right of the level is just there so you can get back from the next floor up if you need to - the key for it is right by the exit.