This series rocks!
The only thing I might say is, maybe you should include a few more sprite attacks from LF2. Like some hell moves for example :) You put the dragon kick for Woody, maybe it's time for Henry's arrow rain. The rest is perfect, good music choice. Nice uses of sprites. It's very creative.
P.S: I've placed long enough (around 4 - 5 years) of LF2 to know that Frizen does not have glowy red eyes. You are trying to hide Julian...xD (Well, that's just my guess).
Julian > Frizen in all the matches I played, unless you count his cheap attack - left - jump move (the fire and ice balls, that follow the enemy, and you can you spam them). Anyhow, nice series XD