I sense edited trollery.

My first impression of this was that it's a joke.

Looks like trolling to me.

It may seem as if we're all jumping to conclusions, but I have to agree. At first glance, before scrolling down the page I noticed immediately several things strange about the pixel art.

First thought: Wow, this is pretty big. Shouldn't you start smaller before you move on to bigger things?

Thought #2, the body of this woman, who I presume is some sort of fake mythical god-thing, just seems too perfect. Or, should I say, the lighting is too perfect as opposed to the hair, wings, and face, which seem particularly amateur in comparison. It's as if you just pulled up reference for the body, copied that, and then just slapped on everything else at the last minute. Did you really draw everything in here, as you said, without reference? If so you have a head start in anatomy, a pretty valuable skill. But if not, shame on you for trolling.

The lower half of the body was rather surprising in a disturbing way, about as much Goatse, but that's just me.

My third thought about this, though, is about the same as my second thought. The hideous newborn demon she just gave birth to seems about as slapped on at the last minute as hair, wings, and anything else I've listed under that category. Mathias was right. I mean, is birthing just a regular occasion for her? As in, every other hour? Jesus, that's disturbing. That pose and this action do not compute. They're just impossible, simple as that.

Upon further inspection I do take note of enough banding, colors, and over-dithering to fill in for dozens of works of pixel art. More than enough at the least.
Overall the whole thing just seems as if you have only a vague idea of what you're doing.

I don't mean to be so harsh but you probably have a long way to go.

The spriting overall's pretty good. Have you been doing this for a while? I don't see much wrong with the lighting considering that there's more than one light source.

And maybe it's just me, but the sky does look somewhat distracting, however, so perhaps you could darken that a shade or change the hue? I don't know. Maybe it'll look better when it's cleaned up.

Ok I scrapped my idea, I can't get it working the way I want it to work and it would be sub-par.
So here's the piece, finished!

Edit ; Added waves when the boat stops.

Finished? Sure the animation is almost there, but visually it could definitely be improved. For instance note the amount of banding, outlining, and pretty bland lighting in the image.

uh

I'm too lazy to make an edit right now and I have no clue on how to splice frames together to make an animation, but perhaps I'll edit a frame or two though to give you an idea of what I mean.

Well.. I can't please everyone. But I can try 

[snip]

Actually I think I have a new favorite. Keep it up!