Heh, bet he makes for a violent drunk.
I like it. good lines, nice pose. I did a rough edit, 'cause I have too much time on my hands. Hope you don't mind.
Palette: Like you said, there were alot of colours for such a small piece, and even at 8x, I couldn't tell where you used some of them. That's not necessarily a big deal though. I think low colour count really comes down to personal preference, but if you want to lower the number of colours, it is possible.
I increased the contrast, too. At 1x, it's kind of hard to see the highlights on the original. Lastly, I
tried to add some tinting (that is, the shades are bluish, the highlights more yellowed), but I'm ne wto that myself, so it may not look too sexy.
Colouring: The only reason I changed any colouring was because I reduced the palette, and need to alter some lines (I couldn't do alot of anti-aliasing, for example). Some fold lines are thinner, etc. Nothing big. Oh yeah, I guess I added some more highlights, too, but that's because I got carried away. In mine, it looks like his close are wrapped pretty tight, in that binding, uncomfortable sort of way.

I didn't change anything on the lines, 'cause they look great as is, so that's about it. don't take my word on any of this though, 'cause I don't know what I'm talking about most of the time. if this is any help at all though, I'm happy.