College is not about learning, companies want to know that you can start something, do a good job at it, and finish it.
If you want to be taken seriously as a web designer there are some things you need to seriously rethink. Kill the splash page, kill all the flash (flash is ok used sparingly in certain situations, or in marketing driven microsites), and learn some modern front end code standards and best practices. (See the other HTML thread)
I have worked for or with most of the web companies in buffalo, and am friends with the owners of a bunch of them, I have a very good understanding of what the industry is looking for.
I think you generally try and go overboard with your designs, try keep it simple, give it whitespace, and remember fancier is not always better. Great design is achieved not when nothing more can be added, but when nothing more can be taken away.
Look at http://www.Happycog.com for example, these guys are one of the top web companies in Manhattan and Philly, they publish one of the best (if not THE best) web design magazine out there (www.alistapart.com), they speak at the top web design and media conferences all over the world. Its simple, its functional, its beautiful.
Really, your best bet is to look at the routes you can go, pick one and run with it. Backend Developer (PHP, RoR, ASP, .NET, etc), Frontend Developer (XHTML, CSS, DOM), Database Admin, Flash Developer or Designer. Its pretty tough to get good at anything when you are doing a little bit of all of these (unless you’ve been doing them for 20+ years).
Good Luck in your job search.