I just thought this was so cool! I think it was mostly because it reminds me so much of the classic Street Fighter games. I don't know about this contest you are talking about. There are so many of them on this website I lose track. The red guy looks like a reptile of some kind. I wouldn't expect a reptile to have a sixpack, but I'm not a herpetologist.
The animation moves so wonderfully fluid here. It's pretty much as good as anything else you've worked on. You remind me of golfinho, only not as disgusting. That is probably why I like you more. The work with the shadows is nice too.