It's good, but it could be better.
Here's a few things I noticed in Chapters one and two.
CONS:
1. In the first chapter, some of the text was difficult to read. (White text on an off-white background. Etc.) A text box will fix that. I noticed you started using text boxes in chapter two, but they went away. Why?
2. Try using a different font. It's not that I have a problem with the current font... it's just a bit harsh on the eyes.
3. The text flew by way too quickly. Try either slowing it down some, or make a 'next' button so the viewer can advance the text when s\he's ready.
4. Length. It's too short in my opinion. Chapters one and two could probably be combinded into one. Make them a little longer, and you'll be fine.
5. Why did you kill Link off in Chapter One?
6. Music. The music gets a bit redundant after a while. Try putting some hard-core music into the fight scenes. Like... Metallica or some group like that.
PROS:
1. Good plot. You started a very intreging plot in chapter one, and stuck to it. Good. Just continue like that.
2. Excellent use of sprites. I've never seen a better use of sprites. Congratulations.
3. The fight scenes are great and very well planned out (Albeit a bit short, but hey.) There needs to be a few more (And slightly longer) fight scenes, but they'll come in later in the next chapters. Right?
All-in-all you've got a very good build up, and I like it. You need to change a few things here-and-there, and you'll have a great series everyone should watch. Right, well, I've overstayed my welcome, I think, so I'll leave you to it.
~Xenolord