This is off to a great start.
I've been a fan of Zelda: UO since it began. Your experience as flash artists has grown a lot since your first animations together. I'd recognize those voices anywhere, as well as the cutaway *smash* noises that play alongside the slapstick scenes.
Voice acting was something I touched on in earlier reviews of your series as a whole. If my memory serves I told you all not to be afraid of the microphone, that voice acting is usually enjoyable for all media and you've all got it down pat- at least the people I hear here. Nobody's cracking their voice over the mic (A common starting roadblock is that people are shy and will lower or raise pitch/volume against their will), and even though there are still a few subtitle consistency issues there are no longer glaring spelling errors and entire desynchronized lines which lands this at an expert level by normal standards. You even went so far as to vary volume levels as per relevant to the position of the camera, which is a powerful tool when used correctly.
Your animation timing effects are spot on. Noises aren't desync'd to the movie in any way (when I viewed it anyway), and as said before the volume differences are in perfect relevance to camera position. The animations themselves flutter between comical shorthand and medium grade seriousness which is exactly the mediums that should be aimed for in a flash animation meant to impress and create repeat viewers. And well, when I say medium grade, I don't mean that the drawings are bad. They're actually perfect- a shining example of how to draw really. There are always details that can be added, but these details can bog down a drawing and lead to a cluttered mess that distracts the viewer rather than immerse them and you show an understanding of when too much is too much.
It's a fun Slice-of-Life setting you've landed the characters in, and the personalities are, for the most part, believable. There are a few small things of note- perhaps it's just where I grew up, but I've honestly never seen somebody whack it in full view of an entire classroom. If I remember, you stated in the last UO flash that you were going to work on things to help you advance in life- keep in mind that people who predate you by 40 years may not be impressed when the first 15 seconds of your video consist of someone pleasuring themselves. Yes, it's hilarious to us, but if this becomes portfolio material later (The phrase "Look at these animations I/we all did" comes to mind) you might want to keep an eye on things like that.
So in summary, you've shown great improvement in all areas of flash animation and therefore electronic media creation. You've obtained a firm grasp of audio effects ranging from sound effects to voice acting. You've found a nice blend of surrealism and medium grade serious style that link nicely with the rapid perspective changes and flow of the general short story. The story itself seems believable, but only just so on the tip of one's fingers and the flow and pacing of the animation are spot on for the target genre and audience, which you also seem to understand.
I wish you all luck in future endeavors. You can't hide that voice from me, Link.