TRLoZ 3
Graphics: Animation is great. It is an amazing style you have developed. The detail of Kakariko Village, The Goron City and that amazing pan across Hyrule Fields at the beginning. I don't think you can get much better.
Sound: All of the sound effects and music from the game were pretty good. The problem was in the quality of sound with the voice actors. They have greatly improved from your last two movies, but still need a little bit of work, aside from the Flare Dancer, which was of really good quality to the point that I think it made it out of place in the movie.
The voice actors themselves are really good, I especially like the voice for Navi. Although, I would suggest having her voice act the "Hey, Listen," and "Lookout" lines, as she is still not perfect, and when you play the video game soundbite next to the voice actress you can still easily tell a difference.
Writing/Dialogue: Like most others have said, your script is drawn out and generally hit or miss. Your best writing comes from your short, quick-witted jokes accompanied by a sight-gag. Some of my favorites...
"I can twist my head."
"Look out for the boulders!"
"Thank you, brother!"
But then, you have your drawn out conversations. Not that their horrible, they just need improvement. I don't think it would be really bad to have the long dialogue because that happened a lot in the game, but work on making fewer, funnier and maybe more interesting in the animation; more movement when people talk.
Misc: Small things that annoyed because I decided to get a little nit-picky. These can be ignored though as they aren't a big deal.
Link didn't wear the Goron Tunic at all, but he wore the Zora Tunic at the end. I didn't notice that he hadn't worn the GT until the end when he put on the ZT, and it just stuck out that he didn't put it on for some reason,
The lady in Kakariko Village was just pouring an endless amount of water into a basin, but she was supposedly cooking dinner.
I'm kinda confused at who the Goron was referring to when he said nice piece of ass. Did he not understand that Navi was a fairy or was he saying Link had a nice piece of ass? That joke just flopped to me.
So, I think you just need to work on your jokes and dialogue, and your next episode will be perfect. Good Luck.