That goes in the right direction. I like the improvements.

But there`re certain things that still could be made better.

1) Weapons. You should implement unique weapons like special lazer guns etc. A standard machine gun doesn`t really fit in a space setting .
Be creative! You should give the players a unique gaming experience and weapons are the "stars" of your game together with the gravity concept.

2) HUD. You really should find a great 2D/3D artist. The HUD looks a bit cheap imho. A "neon" HUD would fit better to your game.

3) Level design and shaders: Goes in the right direction, but you really, really should make somethig unique here. Now it looks like Shattered Horizon with not-that-good graphics.
Don`t work with low res space sky domes. Model your own "space" with comets, space stations (inside and outside -> Capture the flag?), lighting effects, lense flares, HDR and volumetric nebuals. Take a look at CSiS in terms of graphical tricks. Use Shade-C. It`s made for space games .

Oh, and try not to use WED and MED for your level design. Make your own detailed models in Blender. And if you can`t: Don`t invest too much time in it and find a great artist and concentrate on scripting and gameplay.

Your game has some really nice ideas. I like it a lot. But you should heavily work on rounding it up with a nice and unique graphics style and level design.