The water waves and texture on the squid look amazing!

 nice

 Very cool :D

Well. That is surely surprising xD
From a technical POV, it's a very nice pixelling especially after the edits; great job!

 Woooa! Very good water effect. Congratulations. Max rate here.

Really nice update.

 @Faceless I made a edit on the tentacles, since the squid wasn't really meant to be laying outside the water..

I'm not sure if I can add a highlight since it might make it not fitting the rest of TMW graphics..

@Everyone else thanks ! :D

 I hope this made it look less like a island :)

Ooh, very nice!

 Man so predictable to tell it's you. Creative and great as always! 

 It seems like an island :0

Whilst I question the textures you've chosen for the squid, it's technically very well done. You might want to try using a bright highlight on some of the tentacle edges to give the appearance of them being shiny/slimy/wet.

 I really love the colorful things sticking out of this head (I'm not sure what they call those on squid :P).

 Them tentacles! Awesome!