Nothing special
The animation was nice and smooth, though there wasn't that much animation. The zoom on Link's face could've been done better. The angle, level of zoom, and that you used the same zoomed in picture twice was unappealing. It barely looked like he was taking aim... it was more like you just drew a picture and added black rectangles to the top and bottom for the hell of it.
Sure the animation was smooth, but you left a lot of detail out of Link's outfit and the shading was sloppy. The only really outstanding smoothness was the light trail thing you gave to Navi. Even Navi's "hovering over the target" thing was lacking since some of the frames weren't perfect circles and you just had it loop. In any case, it's super easy to make a circle and two ovals look smooth.
Didn't really find it funny at all. Even if it is a Zelda parody, I'm surprised it's rated this high. When I see something with a score over 4, I hope for something on a higher level. I'd only give this a 3.5/5, and even that's a stretch. But it was just a small project for you, so it's not like I'm trying to blame you... It's the people of Newgrounds who are messing up the scoring system.