It's TOO Much Like Those Cartoons Back in the Day
The best way to offer room for improvement, as it were, would be to compare this flash to "Saturday Morning Watchmen." That flash was a true parody of both Saturday morning cartoon shows from the late 1980's AND of an adult comic book. In "SMW" ou managed to skew both in a highly amusing fashion.
You went with the same formula with this flash. And for this viewer, it just did not work this time around. Why? I think in order for this parody to work, you needed to do the opposite of what you did with "SMW." In that flash, you took the comic book characters and put them into the world of 1980's animation. In this flash, you needed to submerse the kids of the 1980's animation world into the modern fantasy game realm. That didn't really happen, as the kids behaved the same before and after they got sucked into the game. The only time I got a hint of the kids being in the game was when the one kid uses the axe to slay a monster: the expression on the kid's face as he does is priceless, and that is the sole moment of parody: the one world is used to make humorous juxtaposition about the other.
"SMW" makes for an easier parody because you are crossing two worlds that haven't been crossed: the adult comic and the 1980's Saturday morning cartoon show for kids. With this flash, you are crossing two worlds that have already been crossed: the 1980's Saturday morning cartoon show for kids and the fantasy game world for adults. I can recall at least two examples of this: "Dragons Lair" and "Dungeons and Dragons." Because it has been done before, this parody attempt doesn't seem novel. There's already been a few Saturday morning cartoons like this.
In "SMW," you managed to take "adult" aspects of the characters personalities, and show how those aspects would manifest themselves in a 1980's kiddie cartoon: the Comedian going from a rapist to a kiss-obsessed buffoon. Dr. Manhattan using his powers to change into a car. In this flash, you could have taken the stereotypical personalities from a 1980's cartoon show and put them into the Skyrim world. What would have happened, for instance, if the nerdy know-it-all was in a situation fighting monsters and he acted like a nerdy-know-it-all? Maybe he gets hit with a sword while telling someone else that they are casting the wrong spell, then tells the goblin who stabbed him that the goblin does not know a thing about human anatomy, because the stab wound is in the wrong spot. Instead, the kids, for the most part, behaving like Harry Potter did the first time he went to Hogwarts: a lot of "oooohs" and "aaaahhhs," which do not make for comedy.
Finally, aside from the aforementioned axe-swinging 10-year old, and the anthropomorphic dragon, there wasn't anything in this flash that felt like parody. Which is to say, there wasn't much to laugh about. If anything, you played it too straight, and this feels more like an ACTUAL opening for a 1980's cartoon show than a parody of one. You missed a great opportunity by either showing 1980's cartoon kids behaving like modern adult gamers, or by showing what would happen to those kids if actually plopped down in the gaming world.
I could vote relatively high and give credit for the obvious effort and quality that went into this flash, because it is apparent that a lot of work went into its creation. But there are plenty of Hollywood movies that are on the receiving end of effort and creativity and still stink. While this flash does not stink, it is not particularly good or memorable either. It is just kind of there. It is certainly not representative of your best work. But it does show that you can make a healthy living as a professional, mainstream animator. That is an appropriate statement, as this flash feels more like something out of a professional portfolio than it feels like a legitimate piece of entertainment.