That looks tons better, animation-wise! =) But like Zolthorg points out, the uneven speed doesn't work well. It makes him look like he is thinking about each flap before he decides to move his arms, and like he should be falling because he hesitates.
Other thing is, with the shine on his forehead, it seems like the wings should have a stronger highlight.
Thirdly, is it just me or is his arm a lot smaller than in was in the original? (in the original it was the same length bent at the elbow as the new arm is at full extension)