Okay, not too bad.
Still:

- Shadows are not necessary as shadows dissapear when the background dims for a fatality. You didn't do them too bad, not like the game, but at least they were there (if they were needed).
- Lifebars are a bit messed up. Try putting your name at the bottom in a corner somewhere, it's almost standard now as everybody seems to be doing it. The lifebars need win counters.
- The fatality itself isn't too great an idea, but the main problem is that it doesn't use up all of the space. Fair play in putting it in the centre, that's better, but perhaps some blood spurting out to a side would better occupy the space.
- The background is an MK3 background with MK2 stuff, heh. I'm not keen on mixing, but it's your choice.

Anyhow though:
Blood is pretty nice, and a good choice of sprites for Jax.
I rate 6.8/10.
Good effort .

The detail looks good. The way Jax is cut open looks a little funny, though. You need to finish the blood thing, as you said you are doing. Lifebars are a little low. It's decent. 3.5/5