Yeah. His shadow should get smaller the farther away he is from the ground.
Also, in my opinion; when he's finally on his belly, there is far too much shadow, especially considering how subtle the lighting effects are on the sprite itself.
Oh, and its as if you can see too much of the backpack from the front when you compare it to it's size from the back view. It does add to the animation, but technically shouldn't be there.
Pretty cool though. What's this for?