Overload
This Flash clearly took a lot of hard work, and it shows in the final product. The visuals were great, the fights well choreographed and the sound as good as you could get for its length. But therein lies the problem with this Flash. It is inexcusably long and at times borders on overkill. While I appreciate the options to skip the logo and introduction, the problem is these very things are simply too stretched out to begin with. It would have been better to divide this movie further into different files, especially since you have the scenes broken up already.
The other problem is too much action. More specifically the pacing is almost completely nonexistent. There needs to be some rest in between each sequence or else it all comes together in a mess. You planned every blow and positioned every sprite in its proper place. Let the audience actually get a glimpse of the work you've done instead of being overwhelmed by the lights and colors. Then give them a little time to soak it in.