Now this is starting to look really good! I am glad that my RAM watch file is of use.
While I was looking for the velocity values I found that spinning under water makes Crash move at the speed of 3 for a short while, while he can only move at a speed of 2 while mashing A. See if you can combine these for a speedup.
I also noticed that when invincible you move at a constant speed of 2, the same as regular running, avoid collecting unnecessary masks to the best of your extent. Jumping over a few of the AkuAku boxes may be faster than getting invincible in a few sections.
When you have downtime, try to be entertaining, like ducking to the beat of the music, stuttering in weird patterns etc. It's better than just standing around looking like a statue.
For future WIPs, do consider also posting the VBM, you can use microstorage for uploading the input files:
http://dehacked.2y.net/microstorage.php