For a fan film, they actually did pretty well here. The acting is decent (sometimes great depending on the character), the costumes look good, the effects were decent considering the budget, and most importantly the movie held my attention the entire way through. After just seeing another Batman fan film (which I won't mention because I don't want to be rude), Heart of Ice was so superior that it was refreshing.
I do have a couple cons (which I hate giving to a fan film, but since this sets up for a sequel hopefully some constructive feedback is welcome?). The story was a bit jumbled because there were so many characters. It was tough to follow the plot a couple times. I realize Batman has an awesome rogues gallery, but that doesn't mean you have to try and fit in as many as possible. I personally would've been fine with just Mr. Freeze, and maybe one other villain.
Lastly, and my only other criticism (which echoes my previous point), the Joker doesn't have to appear in every Batman scenario. I know everyone loves the Joker/Harley, but it's getting to a point where I'm happier when I don't see either of them. You've got so many other outstanding characters to work with.
Bottom line, you did an excellent job folks, and I can't wait for Court Of Owls.