Let's start with what I liked the most. The moment I realized, that the black and white part is a dream/ retrospection, and the present part has not only color, but also higher frame count animation! That was great. I would love to see something like that in a "big" game!
Art style is good. The animation quality gets better as the story progresses. The still image of the space station in the beginning is not a great first impression. Then, the corridor animation has a nice art style, but low framerate (first time watching, I didn't know this was a dream sequence). Then you get a nice animation and colors in the final part (I like how the animation is "moving", even in the still parts).
As for the theme- I like how the "5 seconds late" part is something that happened in the past, and is something that haunts the protagonist.
Last thing- if you only worked on this for 8 hours, I'd like to see something that you spend more time on! Keep up the good work!