Needs work.
First off: You need to animate at a higher framerate with more frames for the actions. The walking in the beginning could even be tweened to make it look like he's actually walking. You can use shape tweens to fade the colors of the backgrounds.
Second: You need to adjust the audio. It was much too low. You can change the audio levels in the library.
Third: Use a preloader, and a replay button. You can actually download preloaders here on newgrounds in the downloads section.
I hope this helps improve your future animation.