Wow! Thank you so much for this.
The story and style remind of the - by internet measures ancient - A Lesson is Learned but the Damage is Irreversible comics which I always thought would be very difficult to top.
I'm not sure if I understand the last installment. It seems like the exposed wolf was cast out, but The Elder took pity nonetheless because they are both outsiders. Or perhaps the other two wolves are content with their new identities, but the orange one still feels lost. It doesn't seem to end the series on an uplifting note anyway.
The yellow wolf spent so long being concerned he would be found out that the last panel is a moment of catharsis; that he has been accepted as a member of the community regardless of who he is or was.
He observes his wolf friends who once denounced his behavior sharing the original wolf culture with the sheep. Likewise he can see the sheep partaking in the wolf culture freely, bringing to a close his earlier fears about being found out. The elephant recognizes this and confirms that yes everything is going to be alright he’s not imagining it. (At least that’s how I read it)
I wouldn't read it that way. The yellow one is the main character and that's why he gets the intimate moment with the elder who is the most respected sheep of the flock. We have enough scenes where the yellow one is integrated