I would have enjoyed this a lot more if it wasn't for the constant flashes/fades. It's fine to use them for emphasis, but they were used between almost every scene [if not indeed every scene] and they got in the way of everything else. I think it could have benefited from a few crossfades here and there as well, a few scenes seem to come in offbeat or between beats and that could potentially help smoothe them over if done right.
It was pretty decent otherwise, a straight forward action video but you don't see many D.Grayman AMVs. I like that you used a pretty wide variety of the characters instead of just Allen or the main four or so.