Let me guess, you first filmed the short, edited it, and noticed that it was too long, so you decides to cut the shots tighter . Still too long, then you figured you could speed it up to fit the time limit.
There are two problems I see with doing this.
1. You didn't stretch out shots long enough to speed them up. What used to be a 3 second shot now became a flash if some poorly edited frame. You ve got to have longer shots if you want to speed up the action. In your preproduction you should figure how fast you want to speed up the shot, and how much longer do you need the shot to be. What was 3 second shot now needs to be 8.
2. Because you shot this with panning and sped up the footage - all of your camera moves became hard to watch weird twitches. Again, in preproduction you should have figured to use the steady tripod.
But as I said it was a pretty funny story. Just spend more time in preproduction
Good luck!