what's wrong with metal knux (dead)

[Paraemon]

Survey time: Do you think it is good enough to submit to tSR or not?

Not in the slightest.

To begin with, the palette doesn't fit. After some looking into what the #-bit palette is for the Game Boy Color, I found that it adheres to the 15-bit palette. That is, any of 32768 colors (but I don't believe for a second that you need that many for a specific game's style). The best way to formulate them is RGB values being in multiples in 8, up to a roof of 248 - you have it close, but 247 is incorrect. A more detailed explanation of GBC palettes can be found here. 

The muzzle feels stretched. MK isn't a perfect copy of Knuckles but its muzzle doesn't reach out that far. The nose could do with a pixel "row" being stripped off its nose and the nose being more notably an extension to the muzzle than a tacked on entity.

The dreadlocks don't have bells, I suggest reducing the yellow parts at the ends of the dreadlocks and making them white. While you're at it, inspect any and all official material you can find to get a better perspective on the dreadlocks.

Take the closer pupil away from the farther one, and put an extra pixel or two in between the eyes to link up with the muzzle. It doesn't follow the Sonic style of mono-eye. A slight adjustment to the shape of the black sclera for the closer eye wouldn't go a miss, either.

The legs need to be thinner, and while the "socks" could be reduced, they still protrude a little the closer to the feet they are. And on the topic of feet, reduce their size and make them look closer to Knuckles' shoes like MK has instead of Sideshow Bob's shoes.

My biggest issue though is with the arms. Besides obviously recommending to looking at any and all relevant official material for the arms, maybe give them new positions. I'm not sure what MK is doing with its right arm, but I can't see the left arm except for the hand.