115KB for a custom icon????? And that for an icon which has no apparent meaning and only be used to be "fun" or spam? I really really strongly suggest you to find another one or at least trim that down. Your contacts will not be too happy to forcefully need to download 115KB to see a simple icon which has no meaning at all...
This icon falls under the category: "annoying n00b script kiddie spams with crappy home made custom icon"-icons...
PS: this is exactly why I never found the "improved" custom icons a good idea. IMHO, MSN Messenger should limit the frame count, file size and keep the default 19x19 size. Too bad for some decent creators of emoticons, but this prevents the massive use of crappy made stuff like this, which is a big problem now-a-days.
PSS: even simply doing some proper GIF creation already reduces it to 10% of what it was. And this still includes some pixel errors, bad set frame times and bad set frame styles.