Hmmm.... I think it passes.
I was going to give this a 3, but I want to emphasize that it's better than your last attempt. I'd give it a 3.5, but since there are no half-stars I'll up it to a 4.
The main thing that needs improving is the arms. Arms are not long, straight rectangles. Try to resist the temptation to draw Link's hand where you want it and connect it to his shoulder with a solid line. Also, I haven't looked at these in ZC, but I suspect that the animation will need a lot of tweaking. Try opening it in ZC and making note of whether anything looks a few pixels off, and in what direction, so you can fix it.