eh...
I think I've figured out whats going on, but looks confusing at first.
Doing the background in B&W brings focus to the two fighters which is nice, but their lack of shadows brings it down.
The blood spray looks great as well, except for the bit that is well below (is that a Liu sprite tinted green?) the rest. And for just having his head removed, you've got way too much gore flowing down his chest.
The motion blur on Kung Lao is just fuzzy and none of the colors for it are right either.
I'm still trying to figure out if you wanted the back wall to look like it was in front of the rear pillars as well. Currently it looks like scratched up plexiglass or spider webs instead of a wall since it's opaqued in front of a few of the pillars and the soul chamber.
Overall, if you're looking for a rating, I'd give it a 4.5, add shadows and I'd bump it up to a 6.
Damn, I'm like the Russian judges at the Olympics. Maybe I'm just too picky :?