Getting interesting...
I watched your first animation when it came out months ago and promised myself i'd get round to writing a review if you followed through with a sequel. Well lo and behold you did, and quite a good one it was too!
Firstly there's been some good thought put into the story - the way it's playing it leads me to believe you know roughly where you want the story to head and play out. The story is a bit reminiscent of something i've seen before but i can't place where - but the animation style is interesting.
By way of constructive criticism I had a couple of personal thoughts - firstly I found the use of music a little odd in places. Some scenes which were mainly dialogue (e.g. on the treehouse balcony) seemed badly matched with audio tracks - almost like you layered in the music as an afterthought at the very end.
More importantly for me though was this animation left me feeling a little unsatisfied - it takes a while to get into the action/story and I'm a little unsure where it's heading - kind've the feeling I had watching Lost season 1 and half-way through waiting for something to happen. The story is developing slowly and i'm wondering when we'll be treated with some more details, e.g. about the character's backstories, the (weird) living dragon head, the central character and his relationship with the girl, the unusual characters in the treehouse, various activities at this camp, and so on.
In summary I hope the next episode will close some of these unanswered questions before opening new ones... Happily the story seems solid and the animation is really good, e.g. trying different camera angles top down on the video recorder. The audio could really do with some work to build suspense / mood.
Looking forward to seeing installment 3!