Having just gotten hooked on this series recently I must admit I haven't had as much time to think over all the possible explinations to the many mysteries in the show as some of my fellow forum posters here. But here's my two cents about what I think so far.
Moving on to the more technical part, the series itself has some pretty good animation although I thought it slipped a little in the episode when Kai and Riku met the girl with the missing leg (forgot her name).
The first and second opeings IMHO are great and really fits the mood of the show, so well that I actually don't get tired of watching it in each episode. As for the most recent episodes, 21 and 22, all I can say is Production I.G. knows how to utilize their sound effects
Spoiler:
The fight scene between the Shifu and Hagi was cool as hell! The animation was so smooth and you just gotta love people lugging around huge, medival-styledl weapons.
But the part where Hagi pulls himself off the spear, the sound of it made me squirm and then there's the part where he fell off the cliff in epi.22. Boy did that sound painful.