well
The graphics, very retro, i love it, the animations are done great, and the attacks, are just the kinda thing i like to see, exaggerated and OTT.
just so not to harp on like others about the simplicity of the game, ill offer a few other perspectives
Link's attack, his normal attack is way too epic to simply be a normal attack.
if you have 2 controllable players, make the opponent harder. it should be a challenge to beat him
Get rid of the combo message, its just confusing, unless you plan to implement something along the lines of characters attacking together, or one after the other to create a 'combo' saying combo just cause the normal attack hits more than once is pretty redundant.
other than that, congratulations on your first flash, i look forward to seeing a full and improved version of this