The site has a nice look to it overall, I like the theme you've chosen. The navigation works fairly well, the biggest problem with it are the links at the bottom black strip that take you back to the main page. I never even noticed until I hunted around for an easy way back. Maybe if you raised it up a little and made it a little larger it would stand out more against the black stripe.
Also, some of the text is just way too small, I have to strain to read some of it. Probably 1 or 2 pt sizes bigger would be all it needs to make it more legible.
The flash also takes quite a while to load on a modem, it took me about 4 minutes to download the entire thing. That might be something to take into consideration.
Also, I think it would really help the page overall if you put some kind of information about the framerate450 project and underbelly. When I look at the page, I really don't know what the purpose of the site is until I look around and read the content.
I really like the hand at the beginning though. The color adjustments you did to it make it look like some kind deep sea underwater plant-like creature.
Overall it looks promising and is something I would like to check out again when you get more of it finished.
Hope some of this was useful.