There seems to be a slight depth perception issue towards the top of the...erm...head...of the creature. I can't really tell if that vein is on top or inside or what. Other than that the drawing seems flawless and was amazingly well done. Yeah...looking at it again I think you were trying to portray that thing sticking up into the air? I can't tell. Other than a minor shading flaw that made the depth hard to really see, I don't see anything wrong with it. Didn't see anybody else complain about that either but it's really pretty irritating to me.
If you look towards the creatures "eyes" it looks as if that veiny tentacle would be sticking straight up in the air, however, if you look towards the top it seems to be even with the round body of the creature, which is confusing.
Everything else is just about flawless other than the fact that it has no background, but I suppose with a drawing of this nature that's acceptable. The description is pretty ridiculous and looks like something a small child would come up with. Makes me want to reply with "cool story, bro."
Amazing drawing though. Take my criticism lightly please because this is amazing I'm just trying to be as constructive as possible. Keep up the good work.