Overall, a very nicely done plushie. I can't really say huge improvements have been made over your previous Fluttershy pattern, but that's largely because that one was already pretty good too.
The body, legs, tail, and embroidery are all excellent, there's not much of value I can say about them. I might suggest a slightly less glossy thread for the cutie mark next time, but that's a minor quibble at best. Otherwise, I guess it's just a "keep up the good work."
The mane... from three-quarters, it looks great. From straight on... not so much. It just doesn't seem like it covers enough of the head, and gives the plushie an odd, balding sort of look. It might pay to look into making the base of the forelock a bit wider, and to maybe narrow down the top of the head a trifle so the back segment of the mane can frame it a bit more.
The ears look a bit too large, and seem to be set a little too far in from the side of the head (which may actually be the reason for the size problem.)
The wings are, for the most part, pretty good. I want to say the feathers should be splayed out a tiny bit more, but I'm entirely willing to attribute that to my eyes playing tricks; very much a "get a second opinion" thing.
As a whole, it comes together well, and I don't really think anyone would find anything to complain about if they weren't specifically trying to. Honestly, aside from the ears, I'd say you've pretty much nailed it; much as the mane might bother me, I will gladly admit that's a problem with the character's design, not this interpretation of it.
... now, on to the rating, just because it's there. Vision: You were clearly trying to make a Fluttershy, you did, five stars. Originality: Didn't swipe someone else's pattern, looks like you changed yours up a bit, but I'm going to take half a point for neutral pose and expression; 4.5. Technique: No significant flaws, ears are costing you a half though; 4.5. Impact: Sent me running to eBay on sight, I'm calling that full marks, five points.