He does look rather sad (particularly since it looks like his spines/spikes/horns are chopped off), but there's some sort of..... I dunno... 'freshness' to him that makes it likely he'll escape the brutal treatment he's been recieving. So I can't really say it makes me depressed at all. (As both an artist and an author, I read way too much into it, sorry.)
Photoshop is great and all, but I prefer Painter. Once you figure out what the hell is going on, it's easier to work with... imho.