I've decide to just go for it and try to make a realistic style. Now I know it's nothing right now but I needed feadback on the stationary frame of the down position. The eyes do look better when there's colour btw.
I need feedback!!
EDIT: Uploaded coloured version. I want you all to criticise!!!
EDIT: Uploaded 1 frame of the walking animation. I need someone to fix the legs! They look dreadful!
I have to agree that the legs are far too shiny, and the eyes are huge. Also I'm a bit confused as to why you have that huge palette there; I'm sure you didn't use that many colors :x... I can't check right now due to being at work, but if you did use that many colors, I'd suggest toning it waaaayyy down to like 16 colors MAX for that resolution.
Also I should note that a really good place for crits would be wayofthepixel.net. They've got some nice pointers they can give.