Not bad for a first flash, i suppose
There's plenty to be improved here. Most of it deals with the slightly more complicated aspects of making a flash animation... first one is preloaders - this is pretty much standard fare for flashes - you want the content to load before hand to avoid any errors in the flash due to improper loading... most commonly - sound and music will be off.
But you have no sound or music. and that's the second bit. Learn how to put that in and control it.
Next, you'll want to learn basic actionscript controls like gotoandplay(); and gotoandstop(); .... these will allow you to firstly stop the animation at the end (at which point it is customary to put a replay button and / or credits... also it lets you jump between scenes. This is helpful with wholly different places the flash takes place in or camera angles things like that which you want represented in it.
Your animation is pretty good, really, but try not to rely too heavily on tweening. look into making your symbols movie clips and then making that symbol's animation do the morphing work while having the tweens provide the symbol's overall motion. I think the key to making a really great flash is to master the balance between tweening and frame by frame animation. (visually, at least)
hope this helps out. Looks like your flash will probably pass, but if i were you i'd put all these suggestions into it, add some more to the story itself, and then resubmit it. (upon which time, just delete this one - it's not doing anybody any favors by being here -no offense-)
Good luck!
D