I love love LOVE Penguin (best Batman villain by far...though Arnie might come close...but he's the only one), and this is a really, really cool picture. I'm a sucker for coolly-hued monochrome. Such a fitting mood for this particular version of the character.
That's the way it should be - he did a great job in that movie and I think he will always be the definitive Penguin for batman fans. I thought the same thing when I first looked at it too, think its the mind playing tricks on you lol
i was inferring that this penguin looks more dangerous. like a cold blooded murderer, or cold hearted, not like the spiffy, pink faced penguin. see in my country we excessively use the term cold to distinguish someones character. so i just thought id make a pun