Ahh cool, thats quite a bit bigger, The hand movements aren't SO bad
don't take it the wrong way. Perhaps try more of Fighting stance, or something like this:
Please excuse my super crude edit :S I changed the contrast a little bit, and tried to change the arms abit. I only used the lasso tool to reposition, so its kinda rough, but you can see how alternating the up and down movements is more like a fighting stance than moving both at the same time.
Again, this is only rough. Ideally you would want to offset the movements so they repeat the loop on different frames for each arm, it looks much more natural. (and this is only two quick frames to illustrate 1 point)
HOWEVER, the grab-like animation you have there might work very well if he was hunched over abit more, and the grab was reduced to a twich between 2-3 frames, and were offset by 1 frame per hand.
I don't really have the time to do a full edit, but I hope that gives you some more ideas