This looks like a fun little game! From the trailer, the goal was not very clear to me, but then I found a gameplay video here:
[Edit] how can I not embed a Youtube video?I like the graphics style, simple but still polished and not overly crowded. I especially like the banners and the lava (texture and its wave effect). I think the explosions still have some room for improvement (maybe smoke or so)
Since you mentioned real-time lighting, have you considered adding shadows? I could imagine that a subtle shadow beneath entities or platforms could add quite some depth.