The new version is better in some ways, worse in others.
The first version used round shapes and curves for most of the figure (hood, shoulder, shoes, and so on) with a cape and staff forming straight lines framing the figure. The new parts on the latest version are sharp triangles (legs, shoes). I'm not sure that the triangle shapes work very well.
You made the legs longer, which is nice, but I think the proportions are still off. The scarf is part of the problem. It's like you drew a nice big head, then a nice big scarf to go with it, and then started the torso where the scarf ends instead of under the scarf where it should start.
The short version of the long ramble below is that the anatomy is a weak point. There are a lot of anatomy and drawing references on the web or at your local library that would help more than critique here.
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1) Starting all the way to the right, where the white scale is. Head to groin vs groin to floor. I recommend trying to make these close to equal. Really crush the torso down, or lengthen the legs, or both.
2) The head (red scale upper left). NaCl is right about this.
3) Overlong neck. That neck is long. Hidden by the scarf, but it needs to be a bit shorter. Or raise the line of the shoulders.
4) The new arm doesn't appear to be attached to the shoulder, it's kind of floating there. Or maybe growing into the rib cage.
5) The shoulders are 3/4 view, the hips and belt seem almost straight at the viewer, the legs are shifted off to the side. It's just inconsistent. Maybe sketch the skeleton first to get the parts angled the way you'd like.
6) Anarkhya covered the legs and feet. Also, the thighs are too short.
7) I don't understand the shadows on the legs. The rips in the leggings, ok. The dark shadows, not so good. Makes the thighs look blobby.
I did an edit based on the original, but did not post it earlier because it's poorly done. I'm no good at anime heads, the pose is weak, and it's incomplete. But maybe it will help some:
You can squeeze the torso down quite a bit and get away with it. Chin to groin is 5-6 pixels shorter than the original, and the legs are a lot longer. The white stripe on the leg isn't decoration, I drew the bones and then drew the new leg around it. Other than those two features, ignore the edit because it's not very good.
Hope this helps,
Tourist