Hey man, your video is SICK, with it I got a time that is 22nd in it. I've noticed a couple of things that may speed you up a second or two, although i doubt anyone will be able to come near your current time :P
First, and i'm not totally sure on this one, after you do the first Y that splits into two loops, and you go through the tunnel, i've found if you hold down the charge and go off, you barely make it on, but you are on ground level so you can do a quick speed dash, may save some time.
Second, and i've only done this once, when you go up the first pulley, and hit the springs, i dunno how, but i hit the attack button and it stopped my fall and i landed directly onto the pavement without having to wait to land. You start back farther than in your run, but with a speed dash i think you can save time.
Third, when you use the rocket to fly up, instead of jumping around the roller, just go at it and hold B to do ur spin dash, if you do it right before the roller, you actually go under it and directly into a spin charge (so instead of jump around, land, spin dash, you just spin dash)
I am not positive if this will speed you up since i'm no where near your skill level. But i hope some of these things are helpful :-)
Also, as i'm trying to improve my time as well, how do you do the spin dash thing so fast? And you have blue swirly stuff like a light speed attack does that effect anything? I didn't get the light attack for shadow. :-/
oh, and sorry i've been MIA, running business, school, comic, about 5.5 hours of sleep a night -.- this is the first time i've gotten to play video games i like a month