The main issue I see is I'm wondering if the transparency effect has been carried too far down the legs. It's practically to her ankles on the back view, and past the knees on the front view, and I suspect if you look at the mini from the side, she would have to have pretty thick legs for skin to be showing through in both directions. Also on the large folds of cloth on the legs, it seems to me like maybe there should be a little more of the cloth colour shading on the lower levels of the folds as it curves down towards the part where the skin is showing through. Ditto for the sleeves in the rear view. Where they aren't touching skin, they need more of the shadow cloth colour.
Here's my go at something similar, not that I'm claiming it's perfect by any means!
http://www.reapermini.com/InspirationGallery/jahenna/latest/
If you scroll down for a bit on this page to a diorama with three figures, you can see a version of the mini you painted with a transparency effect. The effect on the leg is done at the front of the dress, but nothing on the back of the leg, so it looks like she's walking forward. The one in white looks more like she's standing still, as the transparency effect doesn't go much below the upper thighs.
http://www.darkswordminiatures.com/mainwebsite_html/gallery/GRRMline_Cersei.htm There are a few other examples of that figure painted with a transparency effect on that page.