Why does it say "Yikra'eni v'E'enehu"?
Radak: Whenever he calls, I will answer him.
Malbim: This is why I do not carry him to avoid danger. I put him in a place of snakes, so he will call amidst affliction and pray, and I will answer him, and he will see that I am with him. If he is not in a place of danger, he will not know this; he will attribute everything to nature!
What is the significance of "Imo Anochi v'Tzarah"?
Ta'anis 16a: This is the source to put ashes on the Aron (during the latter fasts due to lack of rain).
Mechilta d'R. Yishmael (Bo, Pischa 14): As long as Yisrael were subjugated in Egypt, it is as if the Shechinah was subjugated with them - "v'Sachas Raglav k'Ma'ase Livnas ha'Sapir" (to recall their slavery, in which they needed to make bricks).
Mechilta d'R. Shimon (Shemos 3:8): Even an individual in pain, Hashem feels the pain with him - "ha'Noge'a Bachem Noge'a b'Vavas Eino" (Zecharyah 2:12).
Radak: If affliction occurs, he will not fear, for I am with him.
Malbim: The affliction is for his benefit (so he will see that I am with him). It is not due to Hester Panim!
How will He honor him?
Radak: I will give to him grace and honor in the eyes of people. Refer to 50:15:2:3.
Malbim: People will see that I do miracles for him.