Is there some Boktai inspiration here? The style of the legs and outlines reminds me of the way they made Django. Ah well.
As this is still in its early stages, I can't offer much help. I've got some mixed feelings about the orbs on the ground. You might want to smooth out the cracked earth around them a bit and give it some volume. I'm only assuming they're orbs because of their shine. Are they regular rocks?
I think you captured the posture better on the red character. The blue one has dog legs. (they're connected at the back of the thigh and the thigh itself is bending back.)
Like the style you made them in, but it might become a problem once the ground starts getting texture. The legs will most likely dissapear and the body is still lacks some solid shapes to avoid it being confused with dithered areas.
If this mock-up is going where I think it's going, I can't wait for the next update.