Sequels are affected by what came before
It's easy to forget this. Your flash skills are amazing, but you've got to balance them with some good storytelling skills.
The first part of this trilogy introduced the characters, and started the action. It needed to be long for all the exposition and such. Once I got through that, however, I was cravin' a long, soothing bloody righteous rampage, or at least some sweet, suspense-crammed action. Instead, I only got as much fighting as was in the first. It worked in the first because the story had gotten me interested; here, no such luck.
I think you'd get better ranking if you waited to release this work until you had the rest of the action that lies between Pico's awakening and his slaying of the red-haired guy. I also think that you could make the action hella more interesting by making each fight longer and giving Pico and his enemies different strategies and ways they attack. So, you've got two options right there - make one flash where Pico just mows down every henchman in his path, or keep making single flashes for each individual fight, and just make the fights really, really cool.
As a rather patient viewer, I advise the second option, because it makes for higher quantities of enormously more awesome flash. Then again, I don't have to make it. (grin)
Later,
Goggleman