The fairy tale was fine the first time.
Wow, I feel like I'm reviewing the same submission as the last review I wrote, for that Throwback the Duck flash. Yes, obviously entirely different subject matter, but they both excelled in graphics and length while faltering on story and substance.
We'll start with the story, which I have a few large complaints with. First, the retelling classic fairy-tale genre has been done to death, not so much in the flash community, but in the storytelling community as a whole. Therefore, if you want to impress me with a twist on a fairy-tale it needs to be original and done very well. This story was not very original; horror and adult twists on children's stories is a path well traveled. As for the quality, I felt your version of Little Red Riding Hood subtracted more than it added. Specifically, at the expense of innocence, your story added a random introduction/subplot (Relevence to main plot, no. Chance to show a babe in a skimpy metal outfit, check); a developement of the hunter character whose role was marginal and whose ignominous end was anti-climatic; and a substancial amount of other random details which were either silly in thier attempts to be cool or frightening (The Nail and Needle Paths) or so cliche in the storytelling genre that I thought I was going to puke (Then the anthromorphic Cat came up and said...).
As I said, I didn't like the horror slant you gave the story, but I thought, if anything, it was pretty well executed. I thought the voice acting was okay, but everyting else about the style of this piece: the mood, the tempo, the attention to detail, were among the finest parts of the flash.
Although the style was good, and graphics certainly contribute to the style, I thought the graphics were not the best they could have been. Sometimes the graphics weren't as developed as they could have been, and other times it seemed that the animation got lazy (the battle scene, which consisted of still shots of characters and blurs zipping around the screen). Ultimately, though, pretty solid job on the graphics.
Don't stop doing your thing, though! You've got a pretty firm grip on the main concepts of flash, I just felt that your subject matter was poor here. Improve that and you'll "hve myy 5s", or something.