Cool! You guys are good! I liked the filming, and the editing fit with the song, but I felt like you used way to many funky color fades. They got annoying. That's just my opinion though, maybe it was what you were going for.
in my opinion the color pass/leave effect whatever you want to call it is a bit hard to pull off unless you put some work into it.
for most people it probably dosent matter but i really got distracted by little random patches of color in the background, the color transition flash things were ok but i think someone said above maybe not so many.
just some constructive criticism, i watched it twice though and enjoyed it. good job.