This is a nicely done picture, paying homage to Manny's original.
Composition: My first reaction is dislike of the reflection of the sky and the pencils in the mirror. It seems as if the multiple pencil reflections distract from the clean look of your copy when compared to the original. The blue sky alone with the pencils would have been OK IMO. The pencils are well placed, and rule of thirds composition is followed nicely. The colors are nice, as other stated.
Technicals: The lighting seems harsh to my eyes. The addition of some diffusion material may have helped. Also, this may be my monitor, but there appears to be a reddish cast to the sharpened ends of each pencil. This tint detracts from the nice colors of the pencils and causes the colored points to be lost. I would have liked to see the natural wood of the pencils contrasted against the color of their tips. Possibly a little oversharpened in post processing IMO as there appears to be some fringing on some of the edge pixels.
Challenge: Yours was a nice score in high-scoring challenge and it paid proper homage to the original. Good job!
If you have any questions please PM me. Keep shooting!