stop colliding with the table. turn that right of. remove the solid behaviour from the table. You don't want any solid behaviour in your game using this engine for what you want. you won't be able to use some of the nice benefits bullet. your going to have to do this manually for the effect you want. YOu really just try to create an old classic 2d tennis game :)
create a new variables for your ball called depth and force
get force based on the flick strength. You can find that in the touch.
depth default starts at 0.
As your ball is "thrown" it starts descending. Start decreasing depth and moving your ball forward. As your ball.depth goes down. Modify the size of your ball so it get's smaller.
When your ball depth reach -30(abstract table depth) make you sound effect and then start increasing the depth towards 0. As it changes continue to resize the ball larger. This will simulate the bouncing.
AS for your cups and collision. You will need 2 set's of object collisions. Rims and Cup holes.
Everytick check for depth and overlap. your cups have a depth of -20(abstract).
If your depth is 20 or less. Then check for overlapping. If overlapping rim then new angle based on the rim. If depth is 15 or less and overlapping cup. Then destroy cup.
This of course is only an abstract model. You will need to implement, tweak and improve it :) good luck. but it's doable using this kind of system. Whiteclaws is right though. C2 doesn't support 3d collision. So you need to work around it and use old school development.