I like the color combo - the fiery aspects offset Cygnar blue very nicely, and I think you've done them well - but I have to agree with the comments on the banner. The freehand - like that which you display on the rest of the figure- is very nice indeed, but the banner needs to be "live" like the figure you attached it to. Integrating it properly would certainly raise the figure's score.
Love the color scheme, the freehand, and pretty much every aspect of the mini except the banner. Some folds in that and this could have easily been up to a 8 or 9.