It's a well-done game for its time...
...but I don't exactly like its story, the ending, or any of the bosses. Graphics are okay, and I imagine it was very difficult getting the ActionScript just right, but still, there's plenty of room for improvement.
Here are the only two glitches I found-
1. Where the bully with the pink hair and gun is, if you say "Run home to Mommy", go back, and then return to the hallway with the bully that was there before, use the gun and he suddenly reappears.
2. In the part with the gate, use the extinguisher and you get stuck in the gate.
I bet when Pico 2 comes out, it will be possibly the best Flash game ever made! Considering this was Flash (4 or 5?), it was amazing, and I bet Pico 2 will stand out as much as this game did when it was made.