Agree with the two separate inductors L1 and L2.
Are you sure the zener diode is the right value (3.9v) ?
Other than this... don't have much experience with such circuits, but I can say the actual printed circuit board looks awful.
Here's some feedback..
Do you actually need to use 1n4006 diodes for the bridge rectifier? Save some space by using something like a KBP202G or KBP204G (through hole, SIP), for example :
http://uk.farnell.com/multicomp/kbp202g/bridge-rectifier-200v-2a-kbp/dp/1861413 or DF* or DF*M if you want a DIP package , like this DF04M for example:
http://uk.farnell.com/multicomp/df04m/diode-bridge-rectifier-1phase/dp/2306125Use the extra space to maybe use bigger input capacitors (maybe lay them flat if you have some height restrictions) .. use same capacity for both so that you could get better prices in volume maybe.. for example use two 10uF 420-450v capacitors instead of a 6.8uF and a 4.7uF
No need to intersect traces on both sides of the board (see R4 and R3 on your design, you could make the traces go all on just one side of the board)
In fact the hole board could be made just one sided, for cheaper production costs, in worst scenario you just have to use a couple of jumper links (0 ohm resistors) in strategic places to jump over some traces.
For example, use a jumper link or 0 ohm resistor to jump across the 2nd trace going into the transformer, so that you won't break the safety area under the transformer with that trace going to C4.
You could also turn the chip around by 90 or 180 degrees and move the optocoupler UNDER the C4 (move the transformer up a bit) and then those two traces won't go over the traces going to transformer) and you'll have an easier one side only circuit board
If you move the optocoupler under the C4 capacitor, you could also increase the safety of your thing by making a small cut from the edge of the board through the centers of the C4 and the optocoupler to increase the separation (by adding an air gap)
I'd use a bigger C7, maybe a 330-470uF ... basically at 10v rating, the difference in cost for capacitors are very small.
I don't think you need that precise resistors for R2 and R1 ... certainly not 2.05 megaohm 1% ... if it's cheaper, you can probably go for exactly 2 megaohm 1%, or maybe 4 x 1 megaohm resistors in series. Plenty of 2 megaohm resistors available, standard value, for example
the MRS25 series from Vishay.