Get lost Michael Flatley! Odin is the true Lord of the Dance!!
Many images similar to this have been found in many places across England, Netherlands, Germany and Scandinavia, depicting Odin wearing a horned helmet stylized as possibly ravens or eagles, and dancing with spears. This is again showing Odin in his role as shaman. Here using the power of dance to go into trance, as is commonly found amongst shamans and healers around the world too. Such as the Americas, Africa, and famously the whirling dervishes of Sufism.
The wolf looking man next to Odin, is actually one of the Ulfhednar, these were a class of warriors sacred to Odin that wore wolf skins and induced trance states to call upon the spirit of the wolf into themselves giving them super human strength and endurance which they would use against their enemies in battle. These warriors were similar to the famous Berserkers that instead favoured the power of Bears and wore bear skins instead. "Bear-skin" is where the word Berserk actually comes from.
It is actually not surprising that we should see Odin doing trance inducing dancing like this, as Odin himself in fact shares a common Proto-Indo-European origin with the Hindu god Shiva, who is known as "Nataraja" which means "Lord of the Dance" and like Odin is a god of meditation and enlightenment.